A refrigerated appliance that dispenses items includes a power source and a cooling system. Power control circuitry is electrically coupled between a power source (e.g., power cord coupled to a wall outlet) and components (for example, a compressor and one or more circulating fans of the cooling system) of the appliance. A controller, which is operably coupled to the power control circuitry, is adapted to manage the supply of electrical power to such components by intelligently transitioning between a normal-operation mode and at least one power-conserving mode. To achieve efficient power conservation, the controller automatically transitions between the at least one power-conserving mode and the normal-operation mode based upon at least one temperature signal, at least one dispensing event signal, and possibly other data signals supplied to the controller.