In this paper, a flyback converter-derived two-switch topology is proposed for use in auxiliary power supplies for dc ship grids. The converter offers a low-cost solution compared to the conventional two-switch flyback topology through the introduction of additional circuitry that alleviates the voltage stresses on the semiconductors thereby enabling the use of cheaper semiconductor devices. An experimental prototype is built and tested to validate the concept. The design of the converter, its steady-state operation, and a performance comparison with the conventional solution are presented in this paper.