A power supply includes a reference voltage generator circuit, a ramp generator circuit, and control circuitry. During operation, the reference voltage generator circuit compares a magnitude of a received output voltage feedback signal to a received reference voltage. Based on the comparison, the reference voltage generator circuit produces a varying reference voltage and outputs it to the ramp generator circuit. As its name suggests, a magnitude of the varying reference voltage varies over time. The ramp generator circuit produces a ramp voltage signal, a magnitude of which is offset by the varying reference voltage. To maintain an output voltage of the power supply within regulation, the control circuitry receives the varying reference voltage and controls activation of a power converter circuit to power a load based on a comparison of the ramp voltage signal and the output voltage feedback signal of the power supply.