A controller for a multi-level converter regulates the DC midpoint voltage of the multi-level converter by accounting, for the effect non-redundant switch states have on the DC midpoint current. The controller includes a DC bus regulator that monitors the DC output voltage and generates in response a commanded voltage vector. The duty cycle calculator is operably connected to receive the commanded voltage vector generated by the DC-bus regulator and to generate in response to the commanded voltage vector duty cycles associated with non-redundant switch states. The DC midpoint regulator is operably connected to receive the non-redundant duty cycles calculated by the duty cycle calculator and to generate in response a first midpoint current command that accounts for the effect the non-redundant switch states have on the midpoint current. Based, at least, in part, on the calculated effect the non-redundant switch states will have on the midpoint current, the DC midpoint regulator regulates the DC midpoint voltage of the multi-level rectifier to a desired value.