A power supply adapted for supplying electrical power to a load (108, 314, 2112), the power supply comprising: - At least one powered full bridge circuit (100, 300, 2102, 2108), wherein the powered full bridge circuit is adapted for being powered by a direct current voltage supply, wherein the full bridge circuit comprises a first output connection (104a, 104b), wherein the full bridge circuit comprises a first switching means (102a, 102b, 102c, 102d) for controlling the application of electrical power to the first output connection, - at least one floating full bridge circuit (110, 310, 312, 2100, 2104, 2106, 2110), wherein each floating full bridge circuit comprises a capacitor adapted for powering the floating full bridge circuit, wherein each floating full bridge circuit comprises a second output connection (114a, 114b), wherein each floating full bridge circuit comprises a second switching means (112a, 112b, 112c, 112d) for controlling the application of electrical power to the second output connection, - a stack of bridge circuits comprising the at least one powered full bridge circuit and the at least one floating full bridge circuit, wherein the second output connection and first output connection are connected in series, wherein the stack has a third output connection (118a, 118b), - a passive filter for averaging the voltage across the third output connection, wherein the passive filter is connected to the third output connection, - a load connector (122a, 122b) adapted for connecting the passive filter to the load, characterised by - a modulator adapted for modulating the first switching means and the second switching means such that the charging or discharging of the capacitor is controlled while electrical power is being supplied to or extracted from the load, wherein the modulator is adapted for modulating the first switching means and the second switching means in cycles, and wherein the modulator is adapted for modulating the first switching means and the second switching means in any one of the following ways: at least two rising edges per cycle of the voltage across the tirst output connection and the voltage across the stack are aligned, at least two falling edges per cycle (708, 710) of the voltage across the first output connection and the voltage across the stack are aligned, and at least one rising edge and at least one falling edge of the voltage across the first output connection and the voltage across the stack are aligned. - At least one powered full bridge circuit (100, 300, 2102, 2108), wherein the powered full bridge circuit is adapted for being powered by a direct current voltage supply, wherein the full bridge circuit comprises a first output connection (104a, 104b), wherein the full bridge circuit comprises a first switching means (102a, 102b, 102c, 102d) for controlling the application of electrical power to the first output connection, - at least one floating full bridge circuit (110, 310, 312, 2100, 2104, 2106, 2110), wherein each floating full bridge circuit comprises a capacitor adapted for powering the floating full bridge circuit, wherein each floating full bridge circuit comprises a second output connection (114a, 114b), wherein each floating full bridge circuit comprises a second switching means (112a, 112b, 112c, 112d) for controlling the application of electrical power to the second output connection, - a stack of bridge circuits comprising the at least one powered full bridge circuit and the at least one floating full bridge circuit, wherein the second output connection and first output connection are connected in series, wherein the stack has a third output connection (118a, 118b), - a passive filter for averaging the voltage across the third output connection, wherein the passive filter is connected to the third output connection, - a load connector (122a, 122b) adapted for connecting the passive filter to the load, - a modulator adapted for modulating the first switching means and the second switching means such that the charging or discharging of the capacitor is controlled while electrical power is being supplied to or extracted from the load, wherein the modulator is adapted for modulating the first switching means and the second switching means in cycles, and wherein the modulator is adapted for modulating the first switching means and the second switching means in any one of the following ways: at least two rising edges per cycle of the voltage across the tirst output connection and the voltage across the stack are aligned, at least two falling edges per cycle (708, 710) of the voltage across the first output connection and the voltage across the stack are aligned, and at least one rising edge and at least one falling edge of the voltage across the first output connection and the voltage across the stack are aligned.