A load sharing, multi-module power supply system for supplying power to a load. The system may involve: a first power supply module having a controller, and having a first per unit capacity (pu-c); a second power supply module having a controller, and having a second per unit capacity (pu-c); the controller of the first power supply module adapted to implement a reduction in an output power of the first power supply module upon the detection of an operating event, where a portion of the load being handled by the first power supply module is shed by a percentage, and such that the first power supply module remains operating during the operating event but at a reduced power output level; and upon the occurrence of the operating event the controller of the second power supply module is adapted to increase a power output of the second power supply module sufficient to accommodate the portion of the load that has been shed by the first power supply module.