A regulator draws power from a battery or power delivery system and supplies regulated power to a load according to alternating modes of operation. In a voltage control mode, the regulator supplies power with a nominal voltage level and a fluctuating current level that is allowed to float according to the current demands of the load. When the load demands an amount of current that could potentially cause damage, the regulator transitions to a current control mode. In the current control mode, the regulator supplies power with a fluctuating voltage level and a maximum current level. The regulator transitions between voltage control mode and current control mode in order to supply a maximum power level to the load without exceeding the maximum current level. The regulator is also configured to limit the power drawn from the battery by decreasing the maximum output current, potentially avoiding voltage droop.