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A finite control set model predictive control (FCS-MPC) strategy consists of a prediction model, a cost function and an optimization algorithm. Consequently, the performance of the FCS-MPC depends on the proper design of these three elements. This article assesses the influence of the prediction model of an uninterruptible power supply (UPS). Since the load connected to the voltage source inverter (VSI) affects the dynamic of the system state variables, the load dynamic should be included in the system model. This makes the design of the prediction model a challenge because the load connected to the VSI is generally unknown. To deal with this uncertainty, this work proposes an augmented prediction model based on a state observer that includes as many harmonic components as necessary to accurately represent the output current. The performance of the FCS-MPC for a UPS is evaluated in a laboratory prototype using the proposed and the conventional prediction models. Experimental results show that the proposed solution provides a more accurate representation of the output current, improving the system performance. [ABSTRACT FROM AUTHOR]