A system and method of managing power for an electric motor drive system is provided, where at least two electric motor drives are connected to a common power bus, each of the electric motor drives connected to at least one electric motor. A voltage of the common power bus is monitored, and upon the voltage of the common power bus exceeding a prescribed threshold voltage it is determined which of the at least two electric motor drives is operating in a mode other than a regeneration mode. The electric motor drive operating in a mode other than a regeneration mode is commanded to drive the connected motor into a load to dissipate the regenerated energy.