Power transformers would appear to be simple. However, due to their nonlinear and frequency-dependent behaviors, they can be one of the most complex system components to model. It is imperative that the applied models be appropriate for the range of frequencies and excitation levels that the system experiences. Transformer modeling is not a mature field and newer improved models must be made available in ATP packages. Further, there is a lack of published guidance on recommended modeling approaches. And there is typically not enough detailed design or test information available to determine the parameters for a given model. The purpose of this paper is to develop improved transformer core models for ATP and parameter estimation methods that can efficiently utilize the limited available information such as factory test reports.