As the major energy storage device and power supply source in numerous energy applications, such as solar panels, wind plants, and electric vehicles, battery systems often face the issue of charge imbalance among battery cells/modules, which can accelerate battery degradation, cause more energy loss, and even incur fire hazard. To tackle this issue, various circuit designs have been developed to enable charge equalization among battery cells/modules. Recently, the battery power module (BPM) design has emerged to be one of the promising solutions for its capability of independent control of individual battery cells/modules. In this paper, we propose a new current allocation method based on charging/discharging space (CDS) for performance control in BPM systems. Based on the proposed method, the properties of CDS-based current allocation with constant parameters are analyzed. Then, real-time external total power requirement is taken into account and an algorithm is developed for coordinated system performance control. By choosing appropriate control parameters, the desired system performance can be achieved by coordinating the module charge balance and total power efficiency. Besides, the proposed algorithm has complete analytical solutions, and thus is very computationally efficient. Finally, the efficacy of the proposed algorithm is demonstrated using simulations.