The document discusses the history and current state of electrical grids and the opportunities for information technology (IT) to create smarter grids, known as "smart grids". Key points include: - Current grids lack sensors, IT, and ability to self-heal from failures or adapt in real-time. Upgrades are needed for reliability, efficiency, and integration of renewable energy. - A smart grid would incorporate two-way communication between utilities and consumers using IT to remotely monitor, control, and optimize the grid. This allows for demand response, time-of-use pricing, and automated recovery from failures. - Research is needed in areas like advanced metering, communications networks, security, fault detection and prevention,