Abstract: This series-capacitor compensation equipment comprises a series-capacitor bank in series with a power line and an overvoltage protection circuit for the capacitor bank comprising the series combination of a surge arrester and electric bus structure connected in series with the power line and in parallel with the capacitor bank. The surge arrester includes metal-oxide varistor elements which impart a relatively high resistance to the arrester when the voltage across the arrester is in a normal range and a relatively low resistance when the voltage across the arrester rises to a predetermined value that produces arrester operation. The capacitor bank will discharge through the overvoltage protective circuit should a varistor element fail during arrester operation.