I just want to add for edumacational purposes, youh understand...
Volts vs Watts
you're looking at two sides of the same equation.
Watts = Amps x Volts
So when you change "watts" on your device, you are really adjusting the voltage. As your "watts" reduce your voltage drops with it. If I were to draw a piss poor analogy, think of it like the equation 2 + 2 = 4. If I change the 4 to 3, I automatically have to reduce the 2 to 1. (1 + 2 = 3) the 2 sides of the equation are "tied" together.
so when you change your wattage and see your voltage changing that is what you are seeing; the two sides of the equation "balancing".
What we are concerned with is exceeding the amp rating of our battery. Amps are calculated by watts ÷ volts. ex: 60watts ÷ 3.7 volts = 16.2 amps. Your battery has to be rated for more than that amount or it goes *boom*
This is why your battery "shuts down" at 3.2 volts minimum because you can see that if your volts dropped to 2 volts, at 60 watts you would be drawing 30 amps! yeah, *boom*
A regulated mod is designed to keep the voltage constant as the battery discharges. That keeps you safe and happy.
This is just a simple, practical explanation and is in no way intended to inform, insult, offend, challenge or disrespect any real electrical engineer. No real engineers were harmed in this explanation.