A transformer arrangement comprising a transformer having a primary side for receiving input voltage and current from a source and a secondary side for providing output voltage and current to a load. The transformer arrangement further comprises an AC-AC PE converter connected to a thyristor used for bypassing the AC-AC PE converter in case of a short-circuit fault in a terminal of the primary side and/or the secondary side. The transformer arrangement further comprises a thyristor-based AC-AC PE converter connected to a thyristor-tapped winding. The AC-AC PE converter is connected with the thyristor-tapped winding via the thyristor-based AC-AC PE converter. The thyristor-based AC-AC PE converter is connected to an impedance to protect the thyristor-tapped winding from short-circuit faults of the thyristor-based AC-AC PE converter.