A conductor arrangement is provided for reducing very fast transients in high voltage applications. The conductor arrangement includes a conductor element having a main conducting orientation, and a conductive annular shell element coaxial to the conductor element, thus forming an annular cavity around the conductor element. The annular shell element in the main conducting orientation includes a first end portion and a second end portion. The first end portion is conductively connected to the conductor element. The second end portion includes an annular collar which is substantially coaxial to the conductor element, thus together with the conductor element forming a coaxial capacitor which has a solid material filling. The capacitor includes a surge arrester which may serve as an energy conversion portion.