The power system ranks the first among the greatest engineering achievements in the 20th century. With “strong electric power” as the carrier, the power system constitutes the great aorta of modern society for energy transmission; while with “weak electric power” as the carrier, the information network constitutes the nervous system of modern society. Both of them penetrate into all aspects of human society (e.g., science, production, life, international relations), and then promote the modern civilization to achieve rapid development. In terms of science, the power system has promoted the developments of materials, physics, chemistry, automation, information, medicine, and so on. This way, the system of modern science and technology is constituted. In terms of production, the second industrial revolution marked by the wide application of “strong electric power” is also called the electric power technology revolution. It has promoted another major leap in the productivity of human society after the steam revolution. The third industrial revolution marked by the widespread application of “weak electricity” is also known as the information technology revolution, which promotes the continuous evolution of industrial civilization to a much higher level. And the fourth industrial revolution, which is centered on the energy revolution, will meet the needs of human beings at a higher level and get rid of the constraints of the environment on human activities. In terms of life, electric power has become the most indispensable part of human life, ranging from material life to spiritual life, from behavioral habits to thinking ways, and from personal life to social life. In terms of international relations, the development of the power system is conducive to the fundamental solution of energy and environmental problems, thus the international political and economic competition around energy and environment has turned to the competition centered on clean power systems to some extent. As the basic platform for energy production and supply, the development of the future power system must follow the general orientation of the energy revolution. The basic form, management mechanism and technical characteristics of the power system will also undergo tremendous changes as follows: (1) The proportion of renewable energy in the power system will be increased continuously, and the power system will be tightly coupled with gas system and thermal system to form an electricity-centric energy internet. (2) The development mode of building “higher, farther and larger” power grid will turn to the co-development mode of large power grid and small power grid, and the trend of power electronation of power system will be strengthened gradually. (3) Market competition will penetrate into the weak monopolies of the power system. Each subject can play a full game in each link, so as to obtain the optimal allocation of funds, technology and human resources. (4) Digitalization and intellectualization will be the most important technical characteristics of the future power system, which will achieve leapfrog development in observability, controllability and intellectualization.