This paper proposes a new power flow (PF) formulation for electrical distribution systems using the current injection method and applying the Laurent series expansion. Two solution algorithms are proposed: a Newton-like iterative procedure and a fixed-point iteration based on the successive approximation method (SAM). The convergence analysis of the SAM is proven via the Banach fixed-point theorem, ensuring numerical stability, the uniqueness of the solution, and independence on the initializing point. Numerical results are obtained for both proposed algorithms and compared to well-known PF formulations considering their rate of convergence, computational time, and numerical stability. Tests are performed for different branch R/X ratios, loading conditions, and initialization points in balanced and unbalanced networks with radial and weakly-meshed topologies. Results show that the SAM is computationally more efficient than the compared PFs, being more than ten times faster than the backward–forward sweep algorithm.