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Well, I guess it doesn't qualify as a EnergyStar compliant device. The article being referenced all over the place (Gizmodo, Gizmodo UK, Wired) is that a Sony PS3 running 24/7 software (like Folding@Home) will chew up as much energy as five fridges over the course of a year. Gizmodo comments that this means you're effectively donating about $250USD to outfits like Folding@Home a year. The energy consumption for when in use isn't too surprising; what is that even when idle, it's almost as much. At least when it's off in standby mode, it's not that bad.
Take a look at the chart; it makes for some interesting reading.
(Earlier related post here.)