The document discusses the need for and vision of smart power grids. It notes that increasing population and energy demand, exhausting non-renewable resources, and the negative environmental impacts of current power generation require more reliable, efficient, and sustainable energy infrastructure. A smart grid aims to optimize grid use, improve efficiency and security, better align supply and demand, enable distributed renewable generation, and empower customers. It will feature more flexible, accessible, and reliable systems based on open standards to facilitate innovation.