This paper deals with reactive power compensation system on base of capacitor banks and reactors current of which can be regulate by means of semiconductor devices. In the ordinary case they are Thyristors that don’t allow provide efficient regulation with good compatibility with supply voltage. Application of Gate Commutated Thyristors is proposed which allows to provide PWM modulation of reactor current at high frequency. Control system is proposed and it is investigate using PSIM simulation package. Good results are obtained and it allows recommend such system for further investigations.