A welding or cutting power supply system, comprising: a converter circuit comprising first and second solid state switching circuits (68, 70) each having two power electronic switches (74, 76, 84, 86) for producing output power at a controllable level suitable for a welding or cutting operation, the first and second solid state switching circuits (68, 70) being electrically coupled to provide combined output; an output inductance coupled to outputs of both the first and second solid state switching circuits (68, 70); and control circuitry coupled to the first and second solid state switching circuits (68, 70) and configured to provide PWM control signals for controlling states of the power electronic switches (74, 76, 84, 86) of the first and second solid state switching circuits (68, 70), respectively, to maintain desired loading of the first and second solid state switching circuits (68, 70) independent of the level of the output power, wherein for each cycle of the first and second solid state switching circuits (68, 70) the control circuitry is configured to apply first PWM control signals, corresponding to the two power electronic switches, to the first solid state switching circuit based upon a desired duty cycle, corresponding to the desired loading, characterized by determining the duration of the first PWM control signals, corresponding to the desired duty cycle, applied only to the first solid state switching circuit independent of the output power by monitoring "on" times of the first solid state switching circuit, counting a number of clock cycles the first PWM control signals are applied to the first solid state switching circuit, and to apply the second PWM control signals to the second solid state switching circuit based upon the determined duration without re-determining the duty cycle for the second switching circuit; wherein the first PWM control signals are applied to the first solid state switching circuit for the determined duration only during a first portion of each cycle, and the second PWM control signals are applied to the second solid state switching circuit only during a second portion of the cycle after the first portion. a converter circuit comprising first and second solid state switching circuits (68, 70) each having two power electronic switches (74, 76, 84, 86) for producing output power at a controllable level suitable for a welding or cutting operation, the first and second solid state switching circuits (68, 70) being electrically coupled to provide combined output; an output inductance coupled to outputs of both the first and second solid state switching circuits (68, 70); and control circuitry coupled to the first and second solid state switching circuits (68, 70) and configured to provide PWM control signals for controlling states of the power electronic switches (74, 76, 84, 86) of the first and second solid state switching circuits (68, 70), respectively, to maintain desired loading of the first and second solid state switching circuits (68, 70) independent of the level of the output power, wherein for each cycle of the first and second solid state switching circuits (68, 70) the control circuitry is configured to apply first PWM control signals, corresponding to the two power electronic switches, to the first solid state switching circuit based upon a desired duty cycle, corresponding to the desired loading, characterized by determining the duration of the first PWM control signals, corresponding to the desired duty cycle, applied only to the first solid state switching circuit independent of the output power by monitoring "on" times of the first solid state switching circuit, counting a number of clock cycles the first PWM control signals are applied to the first solid state switching circuit, and to apply the second PWM control signals to the second solid state switching circuit based upon the determined duration without re-determining the duty cycle for the second switching circuit; wherein the first PWM control signals are applied to the first solid state switching circuit for the determined duration only during a first portion of each cycle, and the second PWM control signals are applied to the second solid state switching circuit only during a second portion of the cycle after the first portion.