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The multicell converters introduced more than ten years ago make it possible to distribute the voltage constraints among series-connected switches and to improve the output waveforms (increased number of levels and apparent frequency). The balance of the constraints requires an appropriate distribution of the flying voltages. This paper presents some solutions for the active control of the voltages across the flying capacitors in the presence of rapid variation of the input voltage. The latter part of this paper is dedicated to the observation of these voltages using an original modeling of the converter.