An apparatus for dynamic load flow control in high-voltage networks has at least one phase conductor and first high-voltage connection for connection to each phase conductor. Each first high-voltage connection has first and second core sections of a closed magnetic circuit and first and second high-voltage windings surrounding respective core portions and connected in parallel. The core portions and windings are in a tank filled with ester fluids. At least one saturation switching branch outside the tank saturates the core sections and has controllable power semiconductor switches. A control unit controls the power semiconductor switches. The first and second high-voltage windings are connected at high-voltage ends to associated first high-voltage connections and at low-voltage ends to respective saturation switching branches. The device is connectable in series into the high-voltage network, with the saturation switching branches electrically insulated from ground potential.