An alternating current system 10 has a primary circuit 11 which forms a primary winding 18 on a core 16. A secondary winding 24 is connected with a current source 26 or, alternatively, with an impedance 60. The core 16 is threaded by a superconducting coil 20 having a current source 22. In normal use, current in the coil 20 provides a DC bias level of flux in the core 16, and the source 26 is varied to maintain substantially constant flux, thereby minimising losses in the primary circuit 11. In fault conditions, current in the coil 20 is reduced or removed to increase voltage losses across the coil 18, thereby limiting fault current. The impedance 60 can also be switched into circuit, creating further current limiting by virtue of the transformer effect of the windings 18, 24.