The Illusion of Power Capping in LLM Decode: A Phase-Aware Energy Characterisation Across Attention Architectures

ArXi:2605.11999v1 Announce Type: cross Power capping is the standard GPU energy lever in LLM serving, and it appears to work: throughput drops, power readings fall, and energy budgets are met. We show the appearance is illusory for the phase that dominates production serving: autoregressive decode. Across four attention paradigms -- GQA, MLA, Gated DeltaNet, and Mamba2 -- on NVIDIA H200, decode draws only 137--300\,W on a 700\,W GPU; no cap ever triggers, because memory-bound decode saturates HBM bandwidth rather than compute and leaves power headroom untouched.