A power conversion device comprising: a plurality of 3-level (31, 32, 33, 34, 35) converters that are multiple-connected in series to an AC power supply; and a control device configured to control operations of the plurality of 3-level converters (31, 32, 33, 34, 35), each of the plurality of 3-level converters (31, 32, 33, 34, 35) being arranged between the AC power supply and each of a DC positive bus, a DC negative bus and a DC neutral point bus, and configured to convert a DC voltage into an AC voltage having three voltage values, a first capacitor and a second capacitor being connected in series between the DC positive bus and the DC negative bus, and a connection point between the first capacitor and the second capacitor being connected to the DC neutral point bus, and the control device including a calculation unit configured to generate a compensation amount for compensating for the imbalance between a voltage (E D1) across both ends of the first capacitor and a voltage (E D2) across both ends of the second capacitor and add the compensation amount to a voltage command (Vu1*, Vv1*, Vw1*) to generate an output voltage command (Vu2*, Vv2*, Vw2*) for the plurality of 3-level converters (31, 32, 33, 34, 35),, a carrier signal generation unit configured to generate a carrier signal that has a zero crossing point coinciding with that of the output voltage command (Vu2*, Vv2*, Vw2*), a correction unit configured to calculate a correction amount, Δθ, of the phase of the carrier signal based on the voltage difference between the voltage (E D1) across both ends of the first capacitor and the voltage (E D2) across both ends of the second capacitor, the carrier signal generation unit further configured to shift the phase of the carrier signal by the correction amount, Δθ, and a pulse width modulation control unit configured to (i) delay the phase by a prescribed amount based on the carrier signal having the phase corrected by the correction unit as a reference phase to generate a plurality of carrier signals, and (ii) compare the output voltage command (Vu2*, Vv2*, Vw2*) and each of the plurality of carrier signals to generate a control command (S1, S2. S3, S4, S5) for each of the plurality of 3-level converters (31, 32, 33, 34, 35). a plurality of 3-level (31, 32, 33, 34, 35) converters that are multiple-connected in series to an AC power supply; and a control device configured to control operations of the plurality of 3-level converters (31, 32, 33, 34, 35), each of the plurality of 3-level converters (31, 32, 33, 34, 35) being arranged between the AC power supply and each of a DC positive bus, a DC negative bus and a DC neutral point bus, and configured to convert a DC voltage into an AC voltage having three voltage values, a first capacitor and a second capacitor being connected in series between the DC positive bus and the DC negative bus, and a connection point between the first capacitor and the second capacitor being connected to the DC neutral point bus, and the control device including a calculation unit configured to generate a compensation amount for compensating for the imbalance between a voltage (E D1) across both ends of the first capacitor and a voltage (E D2) across both ends of the second capacitor and add the compensation amount to a voltage command (Vu1*, Vv1*, Vw1*) to generate an output voltage command (Vu2*, Vv2*, Vw2*) for the plurality of 3-level converters (31, 32, 33, 34, 35),, a carrier signal generation unit configured to generate a carrier signal that has a zero crossing point coinciding with that of the output voltage command (Vu2*, Vv2*, Vw2*), a correction unit configured to calculate a correction amount, Δθ, of the phase of the carrier signal based on the voltage difference between the voltage (E D1) across both ends of the first capacitor and the voltage (E D2) across both ends of the second capacitor, the carrier signal generation unit further configured to shift the phase of the carrier signal by the correction amount, Δθ, and a pulse width modulation control unit configured to (i) delay the phase by a prescribed amount based on the carrier signal having the phase corrected by the correction unit as a reference phase to generate a plurality of carrier signals, and (ii) compare the output voltage command (Vu2*, Vv2*, Vw2*) and each of the plurality of carrier signals to generate a control command (S1, S2. S3, S4, S5) for each of the plurality of 3-level converters (31, 32, 33, 34, 35).