An energy limiting foldback circuit for use with power supply having a power control device in its output. The energy limiting foldback circuit contains a voltage sensing device for sensing the potential drop between the input and the output of the power control device. The foldback circuit also includes a current sensing device for sensing the current through the power control device. A conduction control circuit is included which is responsive to the outputs of the voltage sensing device and the current sensing device. The conduction control circuit acts to control the operating conduction through the power control device. The energy limiting circuit can also include a pulsing circuit operative in the event of output fault to periodically pulse the power control device into a momentary conduction state.