The dynamic characteristic of power transformer winding has an important influence on its ability to with-stand short circuit and maintain mechanical stability. When the natural frequency of winding gets close to the excit-ing frequency of electromagnetic force

it may lead to the winding resonance and cause the loss of mechanical stabili-ty of winding

even cause the winding damage. This paper begins with the winding model in axial natural frequency

studies the change of elastic modulus of winding spacers in low temperature as well as uses the FEM method to studythe change of natural frequency of 110 kV transformer winding under arctic weather. The results show that under arc-tic weather

with the temperature decrease

the elastic modulus of winding spacers increase and the natural frequen-cy of winding increase which may get close to the exciting frequency and lead to the loss of stability withstand shortcircuit. The conclusions may contribute to the state operation and condition maintenance of power transformer underlow temperature and arctic weather.