The advent of unprecedentedly scalable yet energy hungry Exascale supercomputers poses a major challenge in sustaining a high performance-per-watt ratio. With I/O management acquiring a crucial role in supporting scientific simulations, various I/O management approaches have been proposed to achieve high performance and scalability. However, the details of how these approaches affect energy consumption have not been studied yet. Therefore, this paper aims to explore how much energy a supercomputer consumes while running scientific simulations when adopting various I/O management approaches. In particular, we closely examine three radically different I/O schemes including time partitioning, dedicated cores, and dedicated nodes. To do so, we implement the three approaches within the Damaris I/O middleware and perform extensive experiments with one of the target HPC applications of the Blue Waters sustained-petaflop supercomputer project: the CM1 atmospheric model. Our experimental results obtained on the French Grid’5000 platform highlight the differences among these three approaches and illustrate in which way various configurations of the application and of the system can impact performance and energy consumption. Moreover, we propose and validate a mathematical model that estimates the energy consumption of a HPC simulation under different I/O approaches. Our proposed model gives hints to pre-select the most energy-efficient I/O approach for a particular simulation on a particular HPC system and therefore provides a step towards energy-efficient HPC simulations in Exascale systems. To the best of our knowledge, our work provides the first in-depth look into the energy-performance tradeoffs of I/O management approaches.