The present disclosure relates to a commutation cell and to a compensation circuit for limiting overvoltage across the power electronic switch of the commutation cell and for limiting a recovery current in a freewheel diode of the commutation cell. The power electronic switch has a parasitic emitter inductance. A variable gain compensation circuit generates a feedback from a voltage generated across the parasitic inductance of the emitter of the power switch at turn-on or turn-off of the power electronic switch. The compensation circuit provides the feedback to a control of the power electronic switch to reduce the voltage generated on the parasitic emitter inductance. A power converter including the commutation cell with the compensation circuit is also disclosed.