Abstract: A transformer power regulator and method of utilizing same for efficiently and variably delivering A.C. power to a load by regulating only a portion of the input voltage equal to maximum expected voltage variation in the input voltage source while transmitting most of the power directly to the load through some of the transformer windings. The laminated core structure is continuous and uninterrupted including primary and secondary winding leg portions and back portions defining a main magnetic flux circuit. A pair of control winding leg portions, with bridging portions therebetween define a separate control magnetic flux circuit. Variable energization of a pair of control windings, one on each of the control winding leg portions, variably controls the magnetic reluctance of the control magnetic flux circuit. A primary winding on the primary winding leg portion is connectible to an A.C. voltage source.