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Electric Power is the rate at which electric energy is transferred by an electric circuit.
It is measured by the SI unit Watt, which is equal to one Joule per second
The concept of Electric Power can be understood through the following scenario:
We have a tank of pressurized water with a hose connected that we are using to water the garden. The rate at which water is flowing is like the current in an electric circuit. It can be increased by increasing the pressure in the tank (voltage in a circuit) or by increasing the diameter of the hose (decreasing the resistance in a circuit).
By running the water under a waterwheel, we can measure its power by measuring the rate at which the water wheel spins. If you increase the pressure of the water coming out of the hose, it hits the waterwheel with a lot more force and the wheel turns faster, generating more power. If you increase the flow rate, the waterwheel turns faster because of the weight of the extra water hitting it.
This implies that electrical power is also directly proportional to current and voltage of the circuit. (See Watt's Law for more information).