Ferroresonance is a condition that could occur in power distribution (even transmission, I guess) system when the long line or cable capacitance coincides with inductance of transformers such that when the 3 phase transformers are single phased while lightly loaded, could cause severe over voltages (that could set off the surge or lightening arresters and blow fuses /operate OCPD).
According to Standard Handbook for Electrical Engineers (McGraw Hill), this is phenomena, which is rare, is not well understood but it seems to be resolvable by making sure that all 3 phases close at the same time. The air break isolator switches that may not close all phases simultaneously could cause problems.
A disclaimer: I am not expert in HV transmission, but the above statement is technically correct. I have come across and resolved one such situation in MV distribution system once.