The document discusses corona discharge, a phenomenon where current flows in a conductor due to high potential, causing air to ionize and form plasma. Factors affecting corona discharge include conductor shape, line voltage, atmospheric conditions, and spacing between conductors, while methods to reduce it include increasing conductor spacing and diameter, using bundled conductors, and implementing corona rings. Advantages of corona include reduced electrostatic stresses and reduced effects of transient voltages, but it also has disadvantages like energy loss, ozone production, and non-sinusoidal voltage drops affecting transmission efficiency and communication lines.