NOVELTY - The system (100) has hydraulic cylinders (108, 109, 110) for receiving kinetic energy through arms (105, 106, 107), where the cylinders are in communication with a hydraulic motor (111) and a generator (112) for extracting power. A control unit (113) controls distribution of wave energy and distributes absorbed portion of the kinetic energy to a hydraulic cylinder to actuate movement of a first float (102) connected to the cylinder, where movement of second floats (103, 104) in a first direction is transferable to first floats in a second direction that is opposite the first direction.    USE - Energy converting system for use in a wave power plant i.e. subsea power plant applications.    ADVANTAGE - The system allows pressure and flow to the hydraulic motor to be held constant without loosing peak energy as pressure gradients, so that efficiency of power extraction can be improved. The floats include a wave surface facing direction of wave propagation for receiving a force in the direction of wave propagation, thus providing an improved absorption of energy. The system allows momentary peak power gradients to be accumulated as potential energy without being lost, so that lifetime of the system can be preserved. The system provides the use of sleek, light-weight, simple platform, so that cost-effective system has enhanced platform stability. The platforms are fixed to seabed, and can be re-positioned, so that efficiency of the system can be maintained in varied wave and weather conditions. The system allows simultaneous transfer of movement from first to second floats to dispense with the need for a dedicated absorber solution of hydraulic pressure so as to provide less complexity and inexpensive construction.    DETAILED DESCRIPTION - An INDEPENDENT CLAIM is also included for a method for extracting power from waves in an energy converting system including floats that translate kinetic energy from wave propagation to a hydraulic motor.    DESCRIPTION OF DRAWING(S) - The drawing shows a schematic block diagram of an energy converting system.    Energy converting system (100)    Floats (102, 103, 104)    Arms (105, 106, 107)    Hydraulic cylinders (108, 109, 110)    Hydraulic motor (111)    Generator (112)    Control units (113, 119)