This paper presents a reduced order approach to the modelling of induction machines for the purposes of power transfer between asynchronous networks. The method of interconnection between the networks under consideration is a variable frequency transformer (VFT) whose technology is rooted in that of an induction machine. Attempts to apply a high-order model to VFT studies have been met with numerical instabilities and unacceptably long computation times. A reduced order approach therefore serves to reduce the complexity of the simulation by neglecting transient behaviour. The classical fifth order method is presented, upon which a third order and first order model are derived. These differ from the traditional reduced order models due to the inclusion of an otherwise neglected frequency differential term. Care has also been taken to avoid algebraic loops during simulation so that additional delays need not be introduced. The performance of the models is then analysed when they are operating as an induction machine and then as a VFT for asynchronous power transfer simulations. The result is a stable, low-order model that performs correctly under a wide range of VFT operative scenarios, including asynchronous and different-frequency networks connected to its terminals.