Setting up electricity in a terrace house involves several factors, including the length of wiring, type of cables, and necessary components like switches and fuse boxes. The discussion highlights the confusion between electrical wiring and fiber optic systems, clarifying that fiber optic is not suitable for mains electricity. Key considerations include the size of the house, number of rooms, and types of appliances, which all affect the total cost. The power meter is typically provided on loan from the power company, and there is no straightforward formula for estimating costs; experience and general guidelines are often used. Overall, a detailed assessment of the house's requirements is essential for accurate budgeting.