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A new AC-DC single-stage PWM full-bridge converter is proposed in this paper. The converter uses an auxiliary transformer winding to keep the voltage across the primary-side DC bus below 450 V over a universal line and wide load range. In this paper, the fundamental operating principles of the proposed converter are discussed, and a mathematical analysis of the converter is then performed. The analysis is used to derive graphs of steady-state characteristic curves that can be used to form the basis of a design procedure. The procedure can be used to select the values of key converter components, and is demonstrated with an example showing the design of a 48 Vdc, 500 W power supply. Experimental results obtained on a laboratory prototype are presented to confirm the concepts presented in this paper.