Abstract: A system and method for delivering regulated power and current to an output load has a flyback transformer having a primary winding and a secondary winding. The secondary winding delivers stored energy to the output load. An oscillator circuit is provided for generating a periodical signal. A switching circuit is coupled to the flyback transformer and the oscillator circuit for energizing the primary winding to a reference current level each cycle of the oscillator circuit. The oscillator circuit has an integrator for deriving a time integral of a voltage at the primary winding. The oscillator circuit has a peak detector coupled to the integrator for holding a peak value of the time integral. The oscillator circuit further has a ramp generator for producing a ramp signal. A comparator is provided for comparing the peak value with the ramp signal and generating the periodical signal whenever the ramp signal exceeds the peak value.