Methods, systems, and computer program products are provided for managing power consumption of computing devices in a computer equipment rack. Embodiments include monitoring aggregate power consumption of a plurality of computing devices in the computer equipment rack; determining whether the aggregate power consumption exceeds a predetermined maximum threshold; if the aggregate power consumption exceeds the predetermined maximum threshold, selecting a number of computing devices for throttling in dependence upon priority; and throttling-down the selected computing devices computing devices, reducing the aggregate power consumption to a level below the predetermined maximum threshold. Some embodiments may also include determining whether the aggregate power consumption is below a predetermined minimum threshold; if the aggregate power consumption is below the predetermined minimum threshold, selecting a number of computing devices computing devices computing devices for throttling in dependence upon priority; and throttling-up the selected computing devices, increasing the aggregate power consumption to a level above the predetermined minimum threshold.