A simple equivalent circuit to represent the thermal heat flow equations fo
r power transformers is presented. Key features are the use of a current so
urce analogy to represent heat input due to losses, and a nonlinear resisto
r analogy to represent the effect of air or oil cooling convection currents
. An interesting historical note concerns the fact that the foregoing effec
t was first quantified in 1817, It is shown that the idea of "exponential r
esponse" is not the best way to think of the dynamics of the situation. It
is also shown that one can consider ambient temperature to be a variable in
put to the system, and that it is properly represented as an ideal voltage
source, Physical experimental verification, on an in-service 250 MVA transf
ormer, is described in a companion paper.