This paper deals with the calculation of lightning-induced overvoltages on medium-voltage (MV) and low-voltage (LV) distribution networks taking into account the presence of MV-LV distribution transformers and, in particular, the surge transfer through them. The influence of the high-frequency model adopted for the representation of the power transformer on the calculation results is analyzed, with regards to two different models, both identified and validated by means of laboratory measurements: namely, a simple π of capacitances, and the more complex one introduced by Morched, Marti, and Ottevangers in 1993. Accurate simulation results provide information on the adequacy of both models for the calculations of interest. Additional results, useful to evaluate the expected level of power quality and the benefits achievable by a proper installation of protection devices, are presented making reference to a realistic and complex configuration of an overhead distribution system. © 2008 IEEE.