In one aspect of the teachings herein, a self-commutated current source converter is operated in a manner that compensates for the reactive power consumption and/or harmonics generation of a line-commutated current source converter used in the transfer of electrical power between an AC power system and a DC power system. In this regard, the line-commutated current source converter is operated as a first converter in a hybrid converter apparatus and the self-commutated current source converter is operated as a second converter in the hybrid arrangement. According to one example, the first and second converters are stacked, such that each shares a portion of the DC voltage on the DC side of the hybrid converter apparatus, while in another example, the second converter is not used for power conversion and instead is used solely for compensation with respect to the first converter.