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A three-phase insulated gate bipolar transistor (IGBT)-based static var compensator (STATCOM) is used for voltage and/or current unbalance compensation. An instantaneous power theory is adopted for real-time calculation and control. Three control schemes - current control, voltage control and integrated control - are proposed to compensate the unbalance of current, voltage or both. The compensation results of the different control schemes in unbalance cases (load current unbalance or voltage unbalance) are compared and analysed. The simulation and experimental results show that the control schemes can compensate the unbalance in load current or in the voltage source. Different compensation objectives can be achieved, that is, balanced and unity power factor source current, balanced and regulated voltage or both, by choosing appropriate control schemes.