Power is a rate of energy expenditure. A static vertical tube is not expending any energy, but it does have a potential energy due to the height of the water column. Potential energy is just mgh.
I don't understand what you are saying about the geometry of the hose, so I can't help you calculate the energy in it. However, if the hose were completely vertical, the average height would be 3.5 ft and the potential energy 8ft-lb.
[edit] Since 1 horsepower is 550 ft-lb/sec, if the hose emptied in one second, it would generate an average of .016 horsepower for that second.