The invention comprises an electric power distribution system for providing power to a plurality of loads. An energy reduction device receives high voltage electrical power from a utility. A processor controls three variable transformer windings to produce electrical power at three phases at three independent reduced voltages. The energy reduction device thereby controls the output voltage on each phase to provide an individualized regulated voltage for each phase. The regulated voltage provided includes a sufficient voltage required to power the loads connected to that phase, plus an additional voltage which compensates for the voltage drop caused by the length of wire run in that phase. The electrical distribution system eliminates the need for low voltage step-down transformers at the point of the load. The energy reduction device can regulate the voltage provided to lighting loads as a function of the time of day or the ambient light levels.