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The application of cascaded multilevel inverters-based SVG for EAF compensation is investigated. A mathematical model for 11-level cascaded inverters-based SVG is carried out, and a control method based on adjusting both the modulation index (MI) and the phase angle is proposed. Furthermore, to shorten the SVG response time and improve its accuracy, a feed forward neural network to be employed for on-line applications is developed, calculating the MI/switching patterns that are currently found using a conventional look-up table. MATLAB simulation results are provided to validate the proposed schemes.