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Power transformers are major equipment of electrical substations. Their reliability not only affects the electric energy availability of the supplied area, but also affects the economical operation of a company. Therefore it is very important to pay sufficient attention to maintenance, diagnostic and lifetime issues. Asset management of power transformers is a complex task from both - technical and economical point of view. Regular maintenance and technical condition assessment has a positive effect on the final economic results of the asset and it is essential if utilities are to maximize their return on such strategically important assets, using CBM/PHM strategy.