Abstract: An apparatus and method is disclosed for an improved variable impedance transformer for controlling the power from an alternating input power source to a load in accordance with a direct current control signal. The invention comprises a DC control winding simultaneously wound about a plurality of saturable reactor cores and a plurality of AC power input windings simultaneously wound about a power core and each of the saturable reactor cores. A power output winding is wound about the power core for delivering power to the load. A low impedance equalizing winding is wound about the saturable reactor cores for shunting any resultant alternating voltage as a result of physical variations between the saturable reactor cores.