A power/workload management system includes a power system that is coupled to a first computing device that is configured to perform a first workload, as well as to a second computing device. A management subsystem is coupled to the first computing device and the second computing device, and operates to identify a reduced power event associated with the power system and, in response, determine that the first computing device is associated with a higher power consumption than the second computing device. In response to determining that the first computing device is associated with the higher power consumption than the second computing device, the management subsystem moves the first workload to the second computing device such that the second computing device performs the first workload, and configures the first computing device in a reduced power consumption state.