Low Power Demand with Maxed Settings

Playing campaign on PC, my machine is capable of pushing out great FPS with all settings maxed. I’m not getting bad performance, that’s not the issue here. I just was watching my GPU power consumption during play and it seemed suspiciously low. Ie, my GPU regularly draws over 340 watts in benchmarks for 99-100% GPU utilization. In the campaign, it says it’s using 98-99% GPU at 1440p, but it’s only pulling about 250-270 watts on average, sometimes spiking as high as 290. I used in-game resolution scaling to 150% and it bumped power draw up to 320-ish without major performance penalties, but it seems like if I can run basically 4K in-game without a penalty I should be able to run 1440p at a much higher frame rate.

Has anyone else noticed their power consumption was off with this game? I’m getting FPS in line with what reviewers got, but it seems like if the game engine utilized a bit more of the power headroom in the GPU, the performance could increase substantially.