The electric power industry is a $298-billion-plus industry that provides a vital service essential to modern life. It provides the nation with the most prevalent energy form known — electricity.

Electricity is the lifeblood of the U.S. economy. It powers our homes, offices, and industries; provides communications, entertainment, and medical services; powers computers, technology, and the Internet; and runs various forms of transportation. Not only is electricity the cleanest, most flexible, and most controllable form of energy, its versatility is unparalleled.

Clearly electricity is a crucial commodity we all take for granted. We scarcely think about it, unless we don’t have it. Fortunately, almost without exception, electricity is there for us when we flip the switch.

In addition to providing reliable electricity to our homes and businesses, America’s electric companies are solid supporters of local economic development efforts in thousands of communities across the nation. They contribute to the growth, strength, and stability of these communities by paying billions of dollars in tax revenue, by employing more than 400,000 workers, and by providing a variety of public service programs that address the local needs of the communities they serve.

Today the electric power industry operates in a hybrid model of competition and regulation. This booklet helps to familiarize you with many of the issues facing electric companies. It also helps to deepen your understanding of the different elements and dimensions that make up the electric power industry.

Material in this section from Key Facts About The Electric Power Industry, courtesy of Edison Electric Institute, 701 Pennsylvania Avenue, N.W., Washington, D.C. 20004-2696, www.eei.org.