Techniques are provided to redistribute and rebalance power to a plurality of blade servers with a chassis unit. At a chassis management controller device in a chassis unit comprising a plurality of blade server devices, policy information is stored for the chassis unit. The policy information comprises power limit information that indicates a power budget for the chassis unit and blade server priority information that indicates priority for access to power for each of the plurality of blade servers in the chassis unit. Power is distributed to the plurality of blade servers based on the blade server priority information for each of the plurality of blade servers and the power limit information for the chassis unit. The actual power consumption of each of the plurality of blade servers is determined and power is redistributed to the plurality of blade servers based on the actual power consumption and the policy information.