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When an earthquake occurs, stress accumulated in solid rock is suddenly released along fault lines. The energy released when the rocks break along the fault is converted into seismic waves that radiate from the origin. 
How much energy is involved largely depends on the magnitude of the quake: larger quakes release much, much more energy than smaller quakes. The Richter magnitude scale was devised by Charles F. Richter in 1935 to classify local earthquakes in southern California, but has evolved into the most common parameter to describe the size of the quake and hence, its energy and potential of destructive power. 
It is logarithmic, meaning that an increase of 1 corresponds to a 10-fold increase in the amplitude of the seismic waves generated, which shake the ground. It can also be used to estimate the released energy of a quake, following the Gutenberg-Richter magnitude-energy relation
log E = 1.5×R + 4.8 
or equivalently: 
E = 101.5×R + 4.8 
The relationship also involves that an increase of 1 in magnitude results in an approx. 30-fold increase in energy.

Seismic energy by magnitude compared:MagnitudeEnergy in joules (J)WhTNT equiv.Notes-2.0630.0000175 KWhnear 01 kg dropped 6.30 m-1.020000.00056 KWh0.5 g of TNT100 kg person jumps down 2 m0.06.3 x 1040.0175 KWh15 g of TNT60W light bulb turned on for 17 mins1.02.0 x 1060.56 KWh0.5 kg of TNT60W light bulb turned on for 9 hrs2.06.3 x 10717.5 KWh15 kg of TNTOnly felt nearby
60W light bulb turned on for 12 days3.02.0 x 109556 KWh0.5 tons of TNTEnergy from 50 liters of petrol4.06.3 x 101017.5 MWh15 tons of TNTAnnual energy consumption of 4 average UK households (US: 1.5)
Often felt up to 10s of km distance5.02.0 x 1012556 MWh500 tons of TNTEnergy from 50,000 liters of petrol
Annual energy consumption of 47 average US households6.06.3 x 101317.5 GWh15 kilotons of TNT1945 Hiroshima bomb
Annual energy consumption of 1500 average US households7.02.0 x 1015556 GWh500 kilotons of TNTAnnual energy consumption of 47,000 average US households8.06.3 x 101617.5 TWh15 million tons of TNT1–2 earthquakes this size each year
Total annual energy use of Cuba9.02.0 x 1018556 TWh500 million tons of TNTTotal annual energy use of UKSome facts about earthquake energy:A single magnitude 8+ quake typically releases more energy than all other earthquakes combined during the same year (if no other quakes of similar magnitude occur).Magnitude 9+ quakes occur only every few years to decades on average, but account for significant part of the total seismic energy released during whole centuries.The largest recorded earthquake in history was the so-called “Great Chilean Earthquake” or “Valdivia Earthquake” which occurred on May 22, 1960 near Valdivia, in southern Chile. It had a magnitude of 9.5, which is also near the largest theoretically possible value. It accounts for about 30% of the total seismic energy released on earth during the last 100 years.
Sources / links:Earthquake magnitude calculations (British Geological Service)TNT equivalent (Wikipedia)Average Household Electricity Use (shrinkthatfootprint.com)List of countries by electricity consumption (Wikipedia)The 1960 Chile Earthquake Released Almost a Third of All Global Seismic Energy in the Last 100 Years (geovisualist)Illustration showing an earthquake (image: USGS / courtesy of NCEER)Illustration showing an earthquake (image: USGS / courtesy of NCEER)
Interactive map of latest earthquakes and active volcanoes in the world

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