A voltage comparator of a power supply apparatus detects overshoot by comparing an output voltage with a threshold voltage. The power supply apparatus is provided with three switches. Upon detection of overshoot, the boosting operation of a booster circuit is suspended and the first through third switches are turned on. While the boosting operation is being suspended, the second switch operates to lower the output voltage. Concurrently, the first and third switches operate to forcibly lower an input voltage to allow the output voltage, occurring after the boosting operation is resumed, to approach a preset voltage.