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The objective of the North-East Pacific Time-Series Undersea Networked Experiment (NEPTUNE) program is to construct an underwater cabled observatory on the floor of the Pacific Ocean. While the goal is to provide as much power as possible to users of the system, the system conditions need to be monitored on line in order to determine whether or not any corrective action is needed. Due to the unique nature of the underwater observatory system and load characteristics, an analytical tool is needed to calculate the optimal operating condition that serves the maximum number of loads while satisfying all the constraints. In this paper, an optimization based load management algorithm is presented. The method takes into account all system constraints as well as priorities of the loads.