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The steady-state and dynamic simulation models currently proposed for the derivation of AC/DC system waveforms are described. Their application to the prediction of harmonic distortion is compared with reference to accuracy, general applicability and computational efficiency. It is concluded that generally the use of an iterative steady-state algorithm provides the most accurate and efficient solution. However, such an algorithm often presents convergence problems and in such cases dynamic simulation provides the necessary back up to obtain a solution.