Electric potential energy is a concept that is closely related to electric potential. It refers to the amount of potential energy that a charged object possesses due to its position in an electric field. This potential energy can be calculated using the formula: PE = qV, where PE represents the electric potential energy, q is the charge of the object, and V is the electric potential at that point.

To better understand this concept, let's consider an example. Imagine we have a positive charge (+q) placed near another positive charge (+Q). The positive charge (+q) will experience a repulsive force due to the electric field created by the positive charge (+Q). As it moves away from the positive charge (+Q), its electric potential energy increases. Conversely, if the positive charge (+q) moves closer to the positive charge (+Q), its electric potential energy decreases.

Electric potential energy behaves similar to gravitational potential energy, where the change in elevation plays a role in determining the potential energy.