Circuits and methods are provided for supplying power to a transformer of a switching DC/DC voltage converter within a power converter. The power converter includes separate nodes that can potentially supply such power. A first of these nodes is coupled, typically directly and with no energy-storing bulk capacitor, to a rectifier that supplies rectified power from an alternating current power source. A second node is also supplied power from the rectifier, but is coupled to a bulk capacitor that can store and supply energy as needed. The techniques disclosed herein use the first node to supply power to the transformer when feasible, and use the second node, and its associated bulk capacitor, to supply power otherwise. In so doing, the energy storage requirements of the bulk capacitor may be reduced, meaning that the capacitance and associated size of the bulk capacitor may be reduced relative to other power converter circuits.