What keeps your transformer going?
OilBut Oil oxidizes and creates oxidation by-products which in turn destroy the paper. To maximize the life of the paper insulation, oxidation of the oil must be controlled.
Acidity trigger points 
Fact
FactDamage to paper insulation cannot be repaired
Degradation of transformer insulation is combination of three main factors:
Moisture"MOISTURE KILLS TRANSFORMERS"
Temperature
Oil oxidation
Water in transformer Introduction: Those responsible for transformer maintenance generally recognize that water in transformers is a problem. However, the relationship of water to oil and cellulose is less understood, as is the impact of water on cellulose, over an extended period of time.
Moisture kills transformers Oil Leaks: It is very important to recognize the significance of an oil leak. Oil loss is consequential but on the cooling down cycle moisture drawn in.
Faulty breathing A ready source of moisture.
Low loadingWhen a transformer is left "sitting around" or is very lightly loaded it will become wet

Acidity
End of life definition
Loss of life definition
Thermal life of paper