High utilization of co-generation has given rise to the occurrence of voltage fluctuations in the electrical distribution network. The paper provides a brief idea of the designing of the partially rated, Power Electronic assisted On Load Tap Changer (OLTC) transformer. Most of the tap changers implemented traditionally are the mechanically operated which are having their own advantages and disadvantages such as arcing during switching, high maintenance due to mechanical contacts, service cost and slow reaction time for an operation. Implementation of electronic tap changer has drastically removed the most of shortfall which can be observed at mechanical tap changer. The rapid growth in the field of electronic industries has allowed us for the use of power semiconductor devices, such as the Insulated Gate Bipolar Transistor (IGBT), TRIAC, MOSFET and GTO has assisted us for the proper functioning of OLTC regulators. This paper uses TRIAC as the voltage regulator. The paper gives an idea for designing of a fast-acting OLTC regulator with tapings on the primary side (hv side) hence allowing to reduce losses and to have faster action.