Have SQL query fail if subquery returns null

Question

If the below subquery finds no records it returns null and sets the action_batch_id as so. Is it possible to have the entire query fail/exit if the subquery returns no records?

UPDATE action_batch_items 
SET action_batch_id = (SELECT id FROM action_batches WHERE id = '123' 
AND batch_count < 1000  AND batch_size < 100000) 
WHERE id = 1234567

UPDATE: Here's the structure (it's ActiveRecord)

CREATE TABLE "public"."action_batches" (
    "id" int8 NOT NULL,
    "action_batch_container_id" int8 NOT NULL,
    "action_message" json,
    "adaptor" json,
    "batch_count" int4 DEFAULT 0,
    "batch_size" int8 DEFAULT 0
)

CREATE TABLE "public"."action_batch_items" (
    "id" int8 NOT NULL,
    "action_batch_id" int8,
    "config" json
)

Answer 1

create or replace function raise_error(text) returns int as $$
begin
  raise exception '%', $1;
  return -1;
end; $$ language plpgsql;

and then

action_batch_id = coalesce((select id ...), raise_error('No data'));

Answer 2

Try using COALESCE():

UPDATE action_batch_items 
SET action_batch_id = 
(
    SELECT COALESCE(id, action_batch_id)
    FROM action_batches
    WHERE id = '123' AND batch_count < 1000  AND batch_size < 100000
) 
WHERE id = 1234567

In the event that the subquery returns NULL the action_batch_id column will not be changed. In the case of the subquery returning one or more non NULL records, your UPDATE will behave as before.