In this paper, authors propose a novel competitive multilevel topology. It combines advantages of the flying capacitor and the cascaded H-bridge topologies. It presents several advantages which will be thereafter detailed. The proposed topology is characterized by a reduced impact on the utility supply, a good energetic efficiency and a small number of switches and passive components. It presents also the possibility and the simplicity of changing the number of voltage levels only by acting on-line on the ratio of the desired output voltages. An average model of the proposed topology is performed and the control strategy is designed to draw a nearly sinusoidal current in order to avoid the use of filters. The modeling and control strategy of the proposed topology were verified by simulation.