A balancer circuit for a cell in a rechargeable battery, having connecting terminals for connection of the balancer circuit to the cell. A first resistor is electrically connected to one of the connecting terminals and a voltage switch is arranged in series with the first resistor and electrically connected to the other one of the connecting terminals. The voltage switch, e.g., an adjustable voltage reference circuit, is operable to shunt a balancing current through the first resistor when a load voltage sensed over the connecting terminals is higher than a threshold voltage.