The present invention proposes a hybrid converter branch operating mode for a Modular Multilevel power Converter MMC with MMC cells in distinct subsets operating according to a “pulse blocked” cell operation mode with DC cell voltage increase or according to a “bypass” cell operation mode without DC cell voltage increase. Repeated cell subset assignment and corresponding alternation of cell operating mode allows to reduce or at least manage a mean deviation of the cell capacitor DC voltages of the converter cells. The invention also reduces no-load losses of the MMC in standby mode and a charging voltage in an MMC charging mode.