A magnetoelectric device includes at least one reluctance component, at least one damping capacitor, and a switching circuit. The reluctance component includes a capacitive and inductive magnetic core unit having a loop-shaped first segment and a second segment connected to the first segment, and at least one coil wound around and loosely coupled to the magnetic core unit. The damping capacitor cooperates with the coil to form a resonant circuit. The switching circuit makes and breaks electrical connection between the coil and a DC power source so that an eddy current flowing through the resonant circuit may be generated for storing energy in the damping capacitor.

A voltage or current regulated power converter is presented. The power converter is configured to derive electrical power at an output voltage V.sub.out at an output of the power converter from electrical power at an input voltage V.sub.in at an input of the power converter, wherein the output voltage V.sub.out is greater than or equal to the input voltage V.sub.in. The power converter comprises an inductor, a plurality of capacitors and a plurality of switches. The input and output unit are coupled via an intermediate point, wherein the output unit comprises a first output or second output arrangement, and wherein the input unit comprises a first input or a second input arrangement. The power converter comprises a controller configured to control the plurality of switches such that a commutation cycle of the power converter comprises a plurality of different operation phases.