A Spacecraft Regulation Unit SRU or Power Conditioning Unit PCU with decentralized capacitance comprising several power conversion modules each coupled, via interconnection means, to a high-level power bus for supplying power to equipment of a satellite. Each power conversion module has a bus capacitor (C mod ) coupled via the interconnection means to the high-level power bus. The known common power bus capacitors bank is thereby replaced by the bus capacitors distributed within the different power conversion modules. This saves a specific power bus capacitors bank and allows the bus capacitance to grow with the number of paralleled power conversion modules, thereby yielding a bus impedance all the more lower that the power level is high. This also improves the SRU in term of mass and cost in several power ranges. The bus capacitor is further coupled to a low-level voltage bus preferably located onto a motherboard located parallel to the high-level power bus. This low-level voltage bus forms a resonance compensation provision to damp the resonance between the decentralized bus capacitance and parasitic interconnection inductance. The compensation is further improved by an additional resistance (R' board ) and an additional inductor (L' mod ).