Book excerpt: The book starts from the existed problems in fault analysis of the lumped-parameter circuit model. It firstly introduces the basic electromagnetic phenomenon, uniform transmission line guided electromagnetic waves, multi-conductor system guided electromagnetic waves, fault generated travelling waves; then it introduces series of the traveling waves based protections, which includes principle, technology and application in practical power grid; it also discusses the travelling waves based fault location and the travelling waves based fault feeder selector in China. It systemically reveals the essential features of the fault traveling wave and concludes the analytical solutions of the transient fault traveling waves and the modulus maxima representation of the dyadic wavelet transform of fault traveling waves. Finally, the book analyzes the acquisition of traveling waves and the sensor’s characteristics. A unique fault travelling wave test device has been invented based on the theories of the book and will be applied in real systems.