A multilevel converter (10) converting between AC and DC comprises phase arms with cells between a DC pole and an AC terminal, where the cells comprise single voltage contribution cells and double voltage contribution cells (DVCA), where a double voltage contribution cell comprises a first section (SEC1) with a first group of series connected switching units in parallel with a first energy storage element (C1), a second section (SEC2) with a second group of series connected switching units in parallel with a second energy storage element (C2)and an interconnecting switch (IS) interconnecting the first and the second sections and connected between a positive end of the first energy storage element (C1) and a negative end of the second energy storage element (C2).