It is difficult to say. The total energy from battery definitely increases with higher frequency even you run with low voltage. And most of that energy dissipates on CPU. Just to understand better that a small example. I ran a stock kernel and measured a current from battery under different frequencies. The 250MHz (playing MP3 music) takes only around 110mA but 600MHz (hard loop in shell) takes TEN times more - around 1400mA (screen is dark etc). But CPU VDD1 voltage still differs only 1.26 times (1.58 in square). So, the biggest power consumption increase is in frequency increase.