Electric Potential Energy is the energy stored in an electric field due to the position of charged particles. When two charges are brought closer together, they either attract or repel each other, depending on their signs. This interaction creates a potential energy that can be converted into kinetic energy if the charges are allowed to move. The amount of Electric Potential Energy depends on the magnitude of the charges and the distance between them. It is calculated using the formula U = k \fracq_1 q_2r , where U is the potential energy, k is a constant, q_1 and q_2 are the charges, and r is the distance separating them.