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This paper presents a novel design method for a single-phase to three-phase matrix converter (STMC) with compensation for instantaneous-power fluctuation. The input voltages and currents in the STMC vary according to the ratio of the small AC capacitors for compensating single-phase instantaneous-power fluctuation; the voltages and currents should ideally attain three-phase equilibrium. Thus, the paper proposes an optimal design that focuses on the three-phase equilibrium of input voltages and currents. The effectiveness of the proposed method was confirmed experimentally.