Abstract: An apparatus, method and computer program product are provided for reducing power consumption of an electronic device by taking into consideration not only the load history of each run-time entity operating on the electronic device, but also the importance of those run-time entities. In particular, a run-time entity's utilization of the hardware resources of an electronic device may be controlled in association with the importance level assigned to that run-time entity. Run-time entities having a lower importance level may be allocated less than the maximum operating power of the processor necessary to implement the run-time entity at the highest performance level.