This paper deals with a novel hybrid transformer configuration for MV/LV three-phase distribution systems. The configuration involves a standard distribution transformer with an open-end secondary winding, which is connected to the LV grid and a four-legged inverter with a floating DC bus. Unlike previous hybrid transformers, the proposed configuration eliminates the need for a bidirectional converter and auxiliary transformer windings as well. The fourth leg of the inverter is exploited to manage the neutral line current. The main advantage of the proposed configuration is its ability to provide phase voltage control at the distribution grid edge. This enables the compensation of various grid voltage anomalies such as sags, swells and some kinds of interruptions. The effectiveness of the proposed configuration is demonstrated through simulation and experimental results, highlighting its promising performance in real-world scenarios.