An N-phase switching voltage regulator includes N current sensing elements
which carry respective phase currents. The voltages present at the switch
node sides of the sensing elements are summed and presented to an
amplifier which also receives the regulator's output voltage, to produce
an output which is proportional to the regulator's total output current
I.sub.out. The invention also provides a means for direct insertion of
total inductor output current information into a regulator's voltage-mode
control loop, to provide active voltage positioning (AVP) for the output
voltage. A voltage based on total inductor output current is summed with
the regulator's reference voltage; this sum and V.sub.out are applied to
the voltage control error amplifier, the output of which is processed to
operate the regulator's switches. This enables the regulator's output to
have a desired droop impedance and to provide AVP of V.sub.out as a
function of total filtered inductor output current I.sub.out(fltr).