Tested in Aida64 the 12900K was pulling 250 Watts continuous power, 400 Watts peak.
This CPU is on Intel's new "Intel 7" process node, it seems they still haven't figured out how to make a power efficient X86 architecture.
Yep I believe I mentioned it previously that alder lake is at its building blocks just a continuation of the Intel Core architecture introduced in 2006. While AMD is rocking a brand new ground up Zen architecture, Intel is still peddling around with an inefficient deadweight architecture since 2006 https://en.m.wikipedia.org/wiki/Intel_Core
The "new from the ground up , efficient and powerful x86" replacement architecture is due for the 15th (thought it probably won't be called 15th gen and will get a totally new naming scheme)