Disclosed is a method and structure for locally powering a semiconductor chip within a package. The structure and method incorporate a local voltage regulator mounted adjacent a semiconductor chip on a top surface of a carrier. The voltage regulator is electrically connected to a power plane disposed within the carrier. The voltage regulator continuously senses the reflected voltage of the power plane at a regulated output port and actively cancels time domain noise within its operational bandwidth. Mounting the voltage regulator on top of the carrier adjacent to the chip minimizes loop inductance between the regulator and power plane and also minimizes delay caused by impedance of the power plane on the current flowing to the chip.