A power converter, configured to convert AC mains power to a DC output voltage which is lower than the AC mains' peak voltage, is disclosed. It comprises: a capacitor configured to store charge at a voltage range which is intermediate the peak voltage and the DC output voltage; a gated rectification stage comprising a rectifier for rectifying an AC mains power, and at least one switch configured to supply the rectified AC mains power to the capacitor during only a low-voltage part of a half-cycle of the AC mains; and a switched mode DC-DC power conversion stage comprising at least one further switch and configured to convert power from the capacitor to the DC output voltage during only a high-voltage part of the half-cycle. A controller for use in such a converter, and a corresponding method, are also disclosed.