A DC power supply system delivers a DC output that has a neutral point and is higher than the input voltage of a single DC power supply, by a circuit with series-connected switching elements. The DC power supply system addresses the problem of imbalance between the voltage between a positive terminal and the neutral point and the voltage between a negative terminal and the neutral point. In operational control of the DC power supply system, a capacitor voltage between the neutral point and the positive terminal and a capacitor voltage between the neutral point and the negative terminal are compared, and four switching elements are operated to equalize the two capacitor voltages.