Yes, it could be more than 100W difference. Just good as an estimate. E.g. this site suggests it's more like 150W:
http://www.guru3d.com/article/msi-radeon-hd-7850-power-edition-oc-review/6
However you're neglecting that it's kilowatt-hours. 100W difference means it's 10 hours before you hit 1 kilowatt. So after 10 hours, you're now at a difference of eighteen cents. If you play 100 hours, it's $1.80. 100 hours is low for a full year of gaming, but it's order-of-magnitude. Even if you game 20 hours a week on average so you get about 1000 hours a year (~50 weeks/yr), that's $18 in difference. It'd take about the life of the card (3-4 years or so) to make up the $50 difference. This is all estimates, of course. And I think 1000 hours a year is a lot--for me, at least, I doubt I game even 10 hours a week *on average* now that I have a real job, though of course there are plenty of weeks where I meet or exceed that.