I have written webpages about electrolysis and a powersupply:
http://woelen.homescience.net/science/chem/exps/electrolysis...
http://woelen.homescience.net/science/chem/misc/psu.html
These links may make things easier for you to understand.
The current through a cell is what matters. By keeping resistance low you can keep power efficiency high. Current efficiency is another thing than
power efficiency. Current efficiency is the amount of current, which leads to the desired chemicals, relative to the total current. Current efficiency
can be 100% while power efficiency is low (if all current leads to formation of the desired chemicals, but the voltage across the cells is high). A
less than 100% current efficiency is due to side-reactions which lead to other products than the desired ones.
The following link covers current efficiency in a chlorate cell:
http://woelen.homescience.net/science/chem/exps/miniature_ch...
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