It is a critical requirement of the future 5G communication networks to provide high speed and significantly reduce the network energy consumption. Energy efficient networks along with an energy saving strategy in mobile devices play a vital role in the mobile revolution. The new strategies should not only focus on wireless base stations, which consumes most of the power, but also considers the other power consumption elements for future mobile communication networks, including User Equipment (UE). In this paper, we have proposed a method that calculates the power consumption of a 5G network by considering its main elements based on current vision of 5G network infrastructure. Our proposed model uses the component based methodology that simplifies the process by taking into account the different high power consuming elements. The proposed method is evaluated by considering the three UEs DRX models and Virtual Base Station (VBS) with respect to different DRX timer in terms of Power Saving (PS) and delay as performance parameters.