Liquid‐filled transformers have as cooling medium biodegradable, noncarcinogenic synthetic or natural esters. Three‐phase transformers of various configurations with and without grounding have several functions: increase/decrease of voltages and currents, filtering of harmonics, assist in protection of power systems, and permit a change of grounding reference. Oriented and amorphous electrical steels permit an efficient and economic design even for operating conditions above the knee of the nonlinear (B‐H) characteristic. Finite‐difference and finite‐element numerical methods can be successfully applied to model the influence of harmonics through phase‐factors to minimize skin effects. Real‐time monitoring of transformer losses is based on the calibration of voltage and current differences which limit the measuring errors to a few percent, for example, 6% at a measured power efficiency of larger than 98%, and permit the use of off‐the shelf transformers without any sensors installed within windings, iron cores, or coolant. Online measuring of total losses provides a mechanism for limiting the temperature increase. The performance of transformers underDCbias is important for renewable energy systems employing converters (e.g., rectifiers, inverters) and exposure to geomagnetically induced currents (GICs). Transformers are suitable for 6‐, 12‐ or 18‐pulse rectifiers used in high‐voltageDC(HVDC) transmission lines. Superconducting MW‐range transformers are available but costly, while superconducting magnets are widely used in the health (magnetic resonance imaging) and research fields: Large Hadron Collider in Switzerland/France and fusion reactor such as Wendelstein 7‐Xin Germany.