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Smart Grid is a great initiative that will change the electrical power grid. It accommodates a number of ideas, concepts, standards, regulations and new technologies that integrated are producing the momentum that Smart Grid is gaining worldwide. Several revolutionary aspects such as the change of the traditional power grid with the development of energy storage technologies together with the convergence with the communication grid, will allow developing a new grid: the Power and Energy Grid Infrastructure denominated P&EGI in this paper. With time this infrastructure will provide electrical energy with quality in a sustainable form to society in the decades to come.