An apparatus comprises an emulator and a corresponding compensator. During operation, the emulator produces, at different instants of time, an emulated output current value representative of an amount of current supplied from an output voltage to a load. In general, the compensator provides selective compensation to the emulated output current value over time. For example, for a first time duration, compensation adjustments from the compensator are used to modify the emulated output current value. For a second duration of time, compensation adjustments from the compensator are not used to modify the emulated output current value. Disabling or discontinuing application of adjustments (such as based on the actual measured output current) during the second time duration (such as during a respective transient condition) provides more accurate and timely generation of a respective emulated output current value.