For power management in a disaggregated computing system, a set of initial electrical power levels are allocated to a set of processor cores according to a predicted desired workload, where the set of initial power levels aggregate to an initial collective contracted power level. Electrical power is dynamically allocated to respective processor cores within the set of processor cores to produce a capacity to execute a collective demanded workload while maintaining the electrical power to the set of processor cores to an approximately constant electrical power level within a threshold of the initial collective contracted electrical power level.