Well I spoke to some experts and they believe that the theory and 
practice are totally different. A dell 860 server default spec will pull 
about 0.6A, despite being rated at 345 Watts on the PSU. So its average 
usage is far lower than you would expect based on the peak figures.

What I also learnt however is that every 0.1 A costs you about £4, so if 
you max out your server day and night then you could be looking at £60 
extra in power bills on top of your £34 hosting, ouch!

Good luck with your colo, personally based on what I've seen I'd be 
tempted to go managed unless it really matters, as colocation is looking 
like a really expensive option. Do a comparison for instance to Amazon's 
EC2 and its night and day in price. I hope that helps.
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