Well, the power was certainly ended by the time they went to sail. You see them wearing them openly with no power in that final chapter of ROTK.
In the Sil,
Tolkien says,
This quote, "and the Three have passed away, and with them
the Third Age is ended", indicates the Third Age is brought to a close by the fading of the powers of the Elven rings. It does not necessarily give an exact date on the rings' fading, but in general, common reckoning dicates the Third Age concluded when
Elrond left
Middle-Earth (September 22, 3021). Why him specifically? Perhaps this is because he is the bearer of
Vilya, the mightiest of the Three. However, the
calendar by Gondorian reckoning determines the
Fourth Age to have begun on the day of
Sauron's downfall (March 25, 3019)... in the year 3021. So what does this mean? It looks like the fading of the rings could have taken place at any point between March 28, 3019 (day
Galadriel used Nenya to destroy
Dol Guldur) and September of 3021. Those are just the major, quick thoughts I have.