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This paper proposes a novel load converter operating in a high frequency AC distributed power system, where a controllable transformer is proposed to control the energy transfer and regulate the voltage. The proposed converter can guarantee tight regulation and simplify the construction of the high frequency AC distributed power system. Detailed theoretical analysis of the controllable transformer is presented. To verify the feasibility of the load converter with the controllable transformer, a switching frequency of 100 kHz, an input AC voltage of 15 V (280 kHz), is built up. Simulation and experimental results are presented for evaluation.