A system that includes a regulator circuit is disclosed. The regulator circuit includes first and second phase units whose outputs are coupled to a power supply node of a circuit block, via respective coupled inductors. The first phase unit may initiate a charge cycle of the power supply node in response to assertion of a clock signal and generate a compensated current using currents measure through both inductors and the clock signal. In response to a determination that the compensated current is greater than a demand current generated using a voltage level of the power supply node and a reference voltage, the first phase unit may halt the charge cycle.