5:15 AM, I awoken with a start by an explosion followed by all our electronics pulsing and a surging 60 Hz hum... NOT good. Instantly WIDE awake! Yank laptop and cell power chords, flip power strips to entertainment center, hit the front porch for a look. Power pole on the corner 5 houses down has a beachball size BRIGHT orange glow pulsing in time with the porch light and hum. Sparks occasionally are falling. The iPhone that lives hanging around my neck is already dialing 911. Report issue and advise I will call power company next and they tell me they will as well. Hang up and report to SWEPCo while on the phone, that transformer explodes. Pretty (*expletive deleted*ing scary!) Arcing and pulsing continues for a few more minutes. They actually had our power back in less than 2 hours. THANK YOU SWEPCo!