Embodiments of the present invention are directed to methods and apparatus for managing current consumption of a peripheral device to meet power specification of the host system having a preset average current supply limit, a preset peak current supply limit, or both. In specific embodiments, the host system has a current supply limit available for supplying current to the peripheral device. The peripheral device operates in a low current consumption mode and a peak current consumption mode which is intermittent over time. The peripheral device draws a low current in the low current consumption mode which is lower than the current supply limit and drawing a peak current in the peak current consumption mode which is higher than the current supply limit. The apparatus comprises a reservoir configured to store excess energy from the host system during the low current consumption mode where the low current drawn by the peripheral device is lower than the current supply limit available from the host system. A switch is configured to direct the excess energy from the host system to the reservoir for storage during the low current consumption mode of the peripheral device and to allow energy to be drawn from the reservoir to operate the peripheral device in the peak current consumption mode.