An aircraft power system includes an aircraft engine having a plurality of engine spools, a plurality of AC generators driven by at least one spool, wherein each AC generator is independently operational to supply AC power to a respective AC power bus or a respective power electronics module, and at least one generator driven by a different engine spool, wherein the at least one generator is operational to supply additional AC power to each AC power bus in synchronization with each respective AC generator, or to supply additional AC power to each power electronics module in parallel with the AC power delivered to each power electronics module by the plurality of AC generators. The power electronics module(s) are operational to selectively provide either AC or DC power to desired distribution buses. Each AC generator and the at least one generator may be responsive to commands from an electrical power extraction (EPX) controller. At least one generator may be directly driven to provide variable frequency power.