An electrical energy saving device or a magnetic induction device is adapted to surround a power delivery line. The magnetic induction device applies a magnetic field region to the power delivery line to reduce amperage up to about 25%. The magnetic induction device can be a one-piece or two-piece construction formed from a molded mixture. The mixture can include from about 35 wt % to about 45 wt % of an epoxy resin; from about 30 wt % to about 40 wt % of a polymer; from about 1 wt % to about 4 wt % of dimethyl sulfoxide; from about 4 wt % to about 7 wt % of a transition metal; from about 10 wt % to about 20 wt % of a magnetic material; and from about 1 wt % to about 5 wt % of a catalyst.