What does reduce engine power means?
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Power = voltage times current, and the power loss is the loss in the line, I^2 * R. At 11,000 volts, the current will be (11,000 / 415 = ) 3.77% of what it is at 415 volts. So the power loss in the line at 11,000 volts will be (3.77% ^2 = ) .14% of what it is at 415 volts.
It doesn't, really. The power loss in transformers is broken down into copper loss and iron loss. The copper loss comes from the resistance of the windings in the transformer and depends on the load current, while the iron loss in the magnetic core depends on the magnetic flux density and is constant if the supply voltage is constant.
No, because it is not loss - inductance by definition will cause reactive power which can be compensated for using capacitor banks (one example). I^2 * R losses (power loss through the cable) takes into account the resistance of the line.
Power factor = cos (angle)PF=cos @
Power lines run at high voltages to overcome line loss.