The current small iMac, which is the first iMac to use an Apple Silicon Chip, is significantly more frugal under full load than the predecessor model with an Intel chip.
Both versions are not far apart with 43 vs. 47 watts in idle mode. Under full load, however, the new model needs a maximum of 80 watts, while the old one was 166 watts. Since everyday use is probably somewhere in between and video transcoding is handled by the M1 chip’s own hardware units, a significant power saving can be assumed.
The comparison with an M1 Mac mini shows that the iMac uses just under 40 watts for the display. Depending on the monitor, this is of course also the case for a Mac mini, but externally via the connected monitor. Apple’s chips thus make a significant leap towards efficiency.