The present subject matter is directed to a system and method for operating an electrical power circuit 200 connected to a power grid 242. The electrical power circuit 200 has a power converter 210 electrically coupled to a generator 118. The method includes monitoring a rotor speed of the generator 118 during operation of the electrical power circuit 200. The method also includes increasing an operating range of the rotor speed of the generator 118. Further, the method includes determining at least one of a line-side voltage of a line-side converter 222 of the power converter 210 or a rotor-side voltage of a rotor-side converter 220 of the power converter 210 during operation of the electrical power circuit 200. Another step include controlling, via a converter controller 262, a DC link voltage of a DC link 244 of the power converter 210 as a function of one or more of the line-side voltage, the rotor-side voltage, and/or the rotor speed.