The present study compares the vortex-induced vibration (VIV) response of an elastically mounted rigid cylinder (EMRC) and an infinitely tensioned cable (ITC) with regard to energy transfer from the incoming fluid flow to the structure. The response of the EMRC and the ITC under uniform flow is predicted using the wake oscillator model (WOM) for different mass ratios. The study then probed into the energy extraction potential of an EMRC and an ITC having equivalent mass ratios using the instantaneous energy, which gives a comprehensive understanding of the energy transferred from the fluid to the structure during the course of interaction. The energy conveyed from fluid to structure is dependent on the vortex lift force coefficient on the structure and the velocity of the structure. It is found that EMRC performs superior to an ITC from the energy extraction point of view.