Engineers from Central Networks discovered that four of the company's substations within yards of each other in the Eastwood area of Nottingham had had vital safety kit stolen.
The four substations - in Derby Road, Lawrence Road, Manor Road and Wilson Road - all had metal earthing stolen, which is vital safety equipment in case something goes wrong with the thousands of volts going through the substations.
Phil Wilson, Customer Operations Manager for Central Networks, said: "This type of vandalism, which risks injury and puts lives in danger, is both foolish and inconsiderate to others.
"Vandalising electrical equipment is incredibly dangerous and it's extraordinary the risk these thieves are willing to take in order to do this.
"While there were no power cuts this time, the fact of the matter is that if something had gone wrong, our customers could have been badly injured or even killed."
Central Networks, which supplies power to 9.4 million people from the Lincolnshire coast to the Welsh borders, works closely with the charity Crimestoppers, which is offering a £1,000 reward for information leading to the successful prosecution and conviction of those responsible.
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