An example electrical power system includes a bus current controller configured to adjust a direct current (DC) provided on a DC bus, and a plurality of energy storage modules (ESMs). Each ESM includes at least one energy storage device, and includes a DC/DC converter configured to control charging of the at least one energy storage device from the DC bus and discharging of the at least one energy storage device onto the DC bus. A shared system controller is configured to control the bus current controller and the plurality of DC/DC converters. A method of controlling an electrical power system is also disclosed.