I say the same performance with absolute confidence.
I expected a drop in performance when a particular contract I worked with asked us to see if we couldn't get everything running on a VM instead of the IBM iron. Like you suspect, that was about not paying for the hardware anymore because just the price of electricity was a noticeable impact on the bank's overall budget. It was an R&D project to see if we could avoid that.
What we put together was a QEMU instance, running atop 3 very very cheap commodity servers in duplication, so that if one went down it would switch over without downtime. We chose the cheap servers, because we already had them hanging around. (Probably around $1000 in hardware all up, today.)
We did not see a drop in performance or reliance. But we did see an increase in performance. As in, ~30%. I avoided suggesting this is always the case, but it is a significant possibility when changing. As far as I know, the bank in question is now running a similar setup everywhere they used to have a mainframe.