An improved multi-
voltage power supply charges individual small capacitors to different voltages. Each small
capacitor is assigned to a circuit, and is charged to a
voltage level sufficient for the circuit. In one embodiment, an improved switching
regulator includes a multiplicity of small capacitors. The small capacitors are assigned to stimulation channels of a stimulation
system. Each channel has a unique compliance
voltage which the assigned small capacitors are charged to. By charging the small capacitors to the corresponding compliance voltages, versus charging a single large
capacitor to the maximum compliance voltage, unnecessary power dissipation is avoided. In another embodiment, a
switched capacitor power supply benefits from the present invention in the same manner as the switching
regulator power supply. Further, any
system requiring a plurality of different voltages may benefit from the present invention.