For many decades, the transformers that populate our power grids have led a fairly one-sided existence. Now, however, their world is being shaken up and a lot more is expected of them: They should cater for the plethora of renewable power sources appearing on the grid; they are required to help maintain grid power quality; they are expected to do their bit in reducing greenhouse gas emissions; and they have to fit in with smart grids. Of course, the traditional commercial pressures to decrease all-round costs, extend asset life, improve monitoring and optimize maintenance still remain.