A method and system for real-time prediction of power usage for a change to another performance state provides input data for power management decision-making processes or for display to system operators. The unit(s) for which power usage is predicted may be a single processor in a uni-processor system or may extend up to the level of facilities within a complex of processing facilities. The method and system gather real-time data on the power consumption of the unit(s) and create a model, such as a regression model, of power versus performance. A resulting power usage change required by a prospective nominal performance state change is shown as display data, or is transmitted to a power budgeting controller to inform the controller as to potential changes that can enhance system operation, such as managing tradeoffs of power allocated to various sub-units of a processing system.