This would allow quickly switching through multiple user defined power profiles, similar to how switching through fire groups work. It would save time when you find yourself in an emergency situation that requires a radical reorganizing of your power priorites. Here is an example of what a miner could set up to allow them to more quickly react to pirates.
Profile 1 (mining)
Name power priority
[o] Thrusters 25% <1>
[o] Shields
[o] Power Distributer
[o] Fsd
[o] shield booster
[o] Beam Laser
[o] Multi Cannon
[o] Mining laser
[o] refinery
[o] limpet controller
[o] Fuel Scoop
[o] Cargo hatch
Profile 1 (mining)
Name power priority
[o] Thrusters 25% <1>
[o] Shields
[o] Power Distributer
[o] Fsd
[o] shield booster
[o] Beam Laser
[o] Multi Cannon
[o] Mining laser
[o] refinery
[o] limpet controller
[o] Fuel Scoop
[o] Cargo hatch