This paper applies modified feedback technology to carry out the exact steady-state and fast transient in a high-performance alternating current (AC) power supply. The presented scheme displays the virtues of a finite-time convergence control (FTCC) and a discrete grey prediction model (DGPM). The FTCC, derived from a terminal sliding-mode (TSM) design principle, can produce the finite system-state convergence time and evade the singularity. It is noteworthy that the chattering/steady-state error around the FTCC may occur because of the overestimated or underestimated uncertainty bound. The DGPM with the bound estimate ability is integrated into the FTCC to cope with internal parameter variations and external load disturbances. The less chattering and steady-state error can be obtained, providing more robust performance in the AC power supply. The combination of the FTCC and the DGPM extends the standard TSM design for the purpose of faster singularity-free convergence, as well as introducing the grey modeling method in the case of a more exact uncertainty estimate. The modified control technology has a high-precision tracking performance and a fast convergent speed. Simulated and experimental results point out that the modified control technology can effectuate low total harmonic distortion (THD) and fast dynamic response in the presence of rectifier loads and abrupt step load changes.