Modeling a three-winding transformer gives occasionally a negative reactance that may result in an unstable circuit. This unstable condition can be eliminated by neglecting the magnetizing losses or taking them into account in a different way as shown in this paper. Unstable responses are, under certain conditions, extremely dependent on the time step when using EMTP or similar programs. This paper shows why simulated terminal voltages do not always reveal an unstable circuit condition.
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Thor Henriksen (2002) studied this question.
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