A power management method with a portable electronic device (100) includes identifying, with a controller (202) of the portable electronic device, a power consumption event in the portable electronic device, the power consumption event having a power consumption requirement. The method further includes selecting (818), in response to the identifying, one of a collection of energy storage devices (304, 306, 308, 320) in an energy storage device farm (218) for the portable electronic device, the selecting being based at least on the power consumption requirement of the power consumption event and on one or more characteristics of the one of the plurality of energy storage devices. The portable electronic device executes the power consumption event using energy stored in the selected one of the plurality of energy storage devices. The portable electronic device (100) may be a mobile phone or other wireless communication device.