Future wireless networks aim to deliver ultra-reliable and low-latency services while containing their rapidly growing energy footprint. In a cell-free radio access network (CF-RAN), this objective translates into a tightly coupled optimisation over access point (AP) activation, user association, precoding design and virtual-CPU provisioning, all under finite-blocklength reliability constraints. We build a detailed power model that includes radio hardware, fronthaul and load-dependent computing,