Explore the future of a decarbonized electric power sector in this comprehensive lecture from Stanford University's Understand Energy Course. Presented by Zach Ming, Adjunct Lecturer in Atmosphere and Energy at Stanford and Director of Energy and Environmental Economics at E3, the lecture covers crucial topics shaping the industry's transformation. Delve into the changing landscape of the power sector, understand the process of decarbonization, and examine the impact of electrification on various sectors. Investigate the challenges and opportunities in retail rate design, the role of distributed energy resources, and the evolving utility business model. Gain valuable insights into the complex interplay of technological, economic, and policy factors driving the transition to a sustainable energy future.