No work being done, but energy is being expended to keep the object levitating (countering gravity) assuming that gravity is still in effect. Force but no displacement.
Now if you are saying that the spell uses the energy to counter gravity, so there is no additional energy required to keep the levitating object levitating, then I understand that well enough.
Louis R wrote:Incorrect. As you should be aware simply from looking around you.
Assuming, of course, that you didn't write that immediately after jumping out of a window. In which case you will have by now hit the ground and probably won't be responding for a while. On the way there, though, you would have noticed movement, although whether you would have ascribed that movement to yourself or your surroundings isn't evident, and you would indeed have been accelerating at 32 feet per second per second. Nothing around you would be, though, which is why reaching the ground is so... awkward.
Should you choose to expire in a more static fashion, we can stick your neck in a noose, haul you to the yardarm and pay off the line around the nearest belaying pin. You would be very much in the way should we need to trim the sails, but I can assure you that no power will be needed to keep you up there. Interestingly, should we pay the line through an electric winch, and try to use the motor to hold you up, the power needed, for the short time it took for the motor to reduce itself to slag, would actually be a very large multiple [20-50x] of the power used to get you up there in the first place. But that is due to the characteristics of an electric motor with a locked rotor, not because we need any power to keep you dangling.
Which brings us around to levitation spells again. Any magical power - whatever that means - consumed in the steady state is going to be dissipated in the internal workings of the spell, because no work is being done on the load. And, judging by the physical power that wasn't needed to raise the load in the first place, that amount isn't all that closely related to the size of the load.