Yes, this issue only happens when on battery
a fix is confirmed in 6.12.9 as reported in the bug report here:
https://bugzilla.redhat.com/show_bug.cgi?id=2333543
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Happy to have found this as well. I was too lazy to file a bug report. However for me this behaviour persists also after replugging the laptop to the power.
Setting the policy on performance is a very weak workaround because, of course, when I use the laptop on battery, I want to maximise battery saving.
Iâm not sure I want to tinker with the downgrade at this point (oh the days when I used to recompile the latest kernelâŠ) and I will stick with performance mode until the fixed kernel lands the repository.
I just updated to 6.12.9, and I can confirm the blinking is gone 
However, tuned behavior is still quite weird IMHO.
- If I try to set it to run on âautoâ switch mode, as soon as I unplug from AC it switches to âmanualâ, and the power profile is correctly switched to âpowersaveâ[1]. HOWEVER, this is not reflected on GNOMEâs settings, which still shows âBalancedâ as the current profile (and so does âPower profile indicatorâ gnome-shell extension).
- Switching
tunedto auto mode while unplugged activates âbalancedâ profile. AFAICS it should remain on âpowersaveâ
[1] I had to change this on /etc/tuned/ppd.conf , it was originally set to âbalanced-batteryâ, which is not recognized by GNOME
So, did I misunderstand how tuned is supposed to work, or are there still some rough corners that need to be ironed out?
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you could try reporting it, i dont understand it either
It turns out tunedâs lead developer Pavol Zacik was kind enough to share some knowledge on a Bugzilla entry. Basically:
- There was a bug that was preventing tunedâs changes being reflected on GNOME; this has been fixed with latest update
tuned-2.24.1-3 - âautoâ mode is useless if you are using
tuned-ppd(which is the case for Fedora) - There are two sections on
/etc/tuned/ppd.conf(profiles and battery) that are responsible for mapping GNOMEâs power profile names to tunedâs