Electricity speeds up most jobs, and is even required for some to be completed. Almost every kind of fuel can be used to create electricity, and wind power can also be used. Electricity is ALWAYS Tl32 and Q255; higher Tl power plants only boost output.
Electricity can be generated at power plants and is added to a power reserve, which dwindles over time. Electricity can be traded with starships- each power generator holds one unit. It does not trade through brokers (so each city needs its own source of power) and cannot be held in a backpack, no matter how hard you try.