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The work presented in this PhD-thesis concentrated on improving existing dielectric response analysis methods for power transformers. A wholesome approach was pursued, leading to contributions in the measurement of the complex impedance spectra as well as in the modeling, analysis and in the subsequent moisture content estimation. The results of this work therefore allow for quicker dielectric response measurement and yet confident moisture estimation in the insulation system of a power transformer. The findings hence assist power utilities in their fleet management of power transformers within the confines of a risk-based asset management system.