Systems and methods for peak power control include control circuitry which identifies a condition for a device. The control circuitry can apply the condition for the device to one or more models maintained for a plurality of device processing units of the device to determine one or more performance characteristics for the plurality of processing units. The control circuitry can distribute power credits to the plurality of device processing units of the device according to the determined performance characteristics for the plurality of device processing units, to manage a respective peak power for each respective device processing unit according to a number of the power credits distributed to the respective device processing unit.