In HTC, USB charging (by connecting the cell to Laptop) draws under 500 mA, and anything under this, is shown as USB charging. If the charging mechanism is able to draw more current then this, typically 900mA, then it says AC charging. But remember this is over 5 volts not the 220 AC volts. The charges coverts 220 into 5 volts. Over 220 volts it inputs around 200 mA. There is a difference between Input and Output.
So it is not taking too much current, this is absolutely fine.
A typical HTC Desire, takes around 4 hours to charge fully over AC charging. And over USB it will take the whole night.
Now coming over Power consumption in ACs its unit is mentioned into BTU/hr actually.
220Volts x 5.5 Amp = around 1200 BTU and that is the power of 1 Ton Split AC unit. Use any good unit converter app to covert BTU into watts, it will give around 350 Watts.
I hope that clarifies...