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The characteristic impedance is the voltage-to-current ratio of a single forward travelling wave on a uniform transmission line. For real $Z_0$ and a real load resistance $R_L$, the voltage-wave reflection coefficient is $(R_L-Z_0)/(R_L+Z_0)$ and the power accepted by the load is the incident power times $4R_L{Z}_0/(R_L+Z_0{)}^2$.

An ideal open circuit permits no conduction electric current through a terminal pair, corresponding to infinite load electrical impedance. At the end of a lossless transmission line, its voltage-wave reflection coefficient is $+1$ and the terminal current is zero. Real open terminals may retain parasitic capacitance and radiation loss.

The transmitting antenna is matched to its input transmission line, so its real terminal electrical resistance is $Z_i$. The identical receiving antenna has the same electrical impedance at the operating frequency. Its available received power for a matched load is the incident energy flux times its antenna effective area:The real receiving load is $Z_t$, so its voltage-wave reflection coefficient relative to $Z_i$ is ${\Gamma }_L=(Z_t-Z_i)/(Z_t+Z_i)$. The fraction of available power delivered to the output line isConsequently, neglecting path losses, mismatch of polarization of an electromagnetic wave and line losses,This is the Friis transmission equation with a receiving impedance-mismatch factor. For fixed $P_i,G_a,d,Z_i,Z_t$, it scales as ${\lambda }^2$. That scaling is conditional on holding antenna gain fixed: a fixed physical aperture can instead have $G_a\propto {\lambda }^{-2}$, and any wavelength dependence of the impedances also enters the expression. The matched-output check $Z_t=Z_i$ gives $P_t=P_i\mathcal{F}$.

The Poynting vector is the electromagnetic energy flux density,In vacuum it equals $\mathbf{E}\times \mathbf{B}/{\mu }_0$. For a linear nondispersive medium with time-independent constitutive coefficients, Maxwell's equations and the identity $\nabla \cdot (\mathbf{E}\times \mathbf{H})=\mathbf{H}\cdot \nabla \times \mathbf{E}-\mathbf{E}\cdot \nabla \times \mathbf{H}$ give Poynting's theorem,The source term is work done by the fields on free charges; for an Ohmic conductor it is the positive local Joule heating rate $\sigma E^2$. Integrating over a volume states that loss of stored field energy plus outward energy flow equals energy transferred to matter. In dispersive media, such as a plasma, material motion contributes to stored energy and the simple nondispersive expression cannot be used indiscriminately.

For a vacuum plane wave, $B=E/c$ and $\mathbf{E}$, $\mathbf{H}$ and the propagation direction form a right-handed triad. With real peak field $E_0$, the time-averaged wave intensity isMore generally, complex peak amplitudes give $⟨\mathbf{S}⟩=\frac{1}{2}\mathrm{Re}({\mathbf{E}}_0\times {\mathbf{H}}_0^{\ast })$. Along a transmission line, the cross-section integral of the longitudinal Poynting vector is the transmitted electrical power $VI$. Energy flows through the electromagnetic fields in the surrounding dielectric, even though the conductors guide the currents.

Distributed circuit model. A transmission line must be treated as a distributed system when its propagation time is appreciable compared with the signal timescale. Divide a uniform two-conductor line into elements of length $dx$. Each has series resistance $R^{\prime }dx$ and inductance $L^{\prime }dx$, and shunt electrical conductance $G^{\prime }dx$ and capacitance $C^{\prime }dx$. The primes denote quantities per unit length, with units $\mathrm{\Omega }{\mathrm{m}}^{-1}$, $\mathrm{H}{\mathrm{m}}^{-1}$, $\mathrm{S}{\mathrm{m}}^{-1}$ and $\mathrm{F}{\mathrm{m}}^{-1}$, respectively.

Kirchhoff's voltage and current laws give the Telegrapher's equations:For a lossless line, $R^{\prime }=G^{\prime }=0$, differentiation gives $V_{xx}=L^{\prime }{C}^{\prime }{V}_{tt}$ and the same wave equation for $I$. The propagation speed and characteristic impedance areA general lossless signal has $V=V^{+}(t-x/u)+V^{-}(t+x/u)$ and $I=[V^{+}(t-x/u)-V^{-}(t+x/u)]/Z_0$. Thus characteristic impedance is the voltage/current ratio of one travelling wave, not simply the resistance of the wires. It can be real even when the line dissipates no energy, because energy is carried away by propagation.

For sinusoidal quantities with convention $e^{i\omega t}$, the general lossy-line formulas areChoose the square-root branches for forward attenuation and positive forward power. The real part of ${\gamma }_{\mathrm{prop}}$ is attenuation per unit length; its imaginary part is the phase wavenumber. For small losses, attenuation is approximately $R^{\prime }/(2Z_0)+G^{\prime }{Z}_0/2$, using the lossless real $Z_0$ in this estimate.

Fields and geometry. Two separated conductors support a transverse electromagnetic mode, with electric and magnetic fields transverse to the propagation axis. For a homogeneous dielectric and negligible conductor penetration, both examples below have $L^{\prime }{C}^{\prime }=\mu ϵ$ and hence $u=1/\sqrt{\mu ϵ}$. The distributed circuit model follows from the field energy and charges in each slice.

For a coaxial cable with inner radius $a$ and inner surface of the outer conductor at $b$, Gauss's law and Ampère's law giveThe electric field is radial and the magnetic field circles the axis. Integration of voltage and field energy givesThe equal and opposite return current on the outer conductor confines the ideal external field to the annulus.

For wide parallel plates of width $w$ separated by $d\ll w$, neglect fringing. The electric field crosses the gap, $E\simeq V/d$, while the magnetic field lies in the gap parallel to the plates and perpendicular to propagation, $H\simeq I/w$. ThereforeFor a forward wave, $\mathbf{E}\times \mathbf{H}$ points along the line. Integrating this Poynting vector over either cross-section gives instantaneous power $VI$. For complex peak amplitudes, average power is $\mathrm{Re}(V{I}^{\ast })/2$, or $|V^{+}{|}^2/(2Z_0)$ for a single forward wave on a lossless line. The conductors guide an energy flux predominantly in the dielectric between them.

Terminations and reflection. At a load $Z_L$, require $V_L=Z_L{I}_L$. If $V^{+}$ and $V^{-}$ are the incident and reflected voltage amplitudes there, the total current is $(V^{+}-V^{-})/Z_0$. ThusA matched load, $Z_L=Z_0$, absorbs the incident power with no reflection. An open circuit has ${\Gamma }_V=+1$, a current node and a doubled voltage at the end. A short circuit has ${\Gamma }_V=-1$, a voltage node and a doubled current there. A purely reactive load on a lossless line has $|{\Gamma }_V|=1$ and accepts no average power. For real $Z_0$, the reflected power fraction is $|{\Gamma }_V{|}^2$ and the accepted fraction is $1-|{\Gamma }_V{|}^2$.

Incident and reflected waves produce a standing-wave pattern with voltage standing wave ratio $(1+|{\Gamma }_V|)/(1-|{\Gamma }_V|)$. The input impedance of a lossless length $\ell$ isThis gives $i{Z}_0\tan (k\ell )$ for a short and $-i{Z}_0\cot (k\ell )$ for an open. A quarter-wave section gives $Z_{\mathrm{in}}=Z_0^2/Z_L$, enabling impedance transformation. After a source launches a pulse, a distant termination affects it only after the reflected pulse returns; the return time is $2\ell /u$. Real conductor resistance, dielectric loss and departures from a TEM field profile limit the ideal model at high frequency.

A transmission line must be treated as a distributed circuit when its propagation time is significant on the signal timescale. Let $R^{\prime },L^{\prime },G^{\prime },C^{\prime }$ denote resistance, inductance, leakage conductance and capacitance per unit length. Applying Kirchhoff's voltage law and Kirchhoff's current law to a short length $dx$ gives the telegrapher's equationsFor a lossless line, $R^{\prime }=G^{\prime }=0$. Differentiating again gives wave equations withThe travelling solutions can be written $V=V_{+}(t-x/v)+V_{-}(t+x/v)$ and $I=[V_{+}(t-x/v)-V_{-}(t+x/v)]/Z_0$. The minus sign for the backward wave is essential to power transport.

At a load $Z_L$, continuity of voltage and current gives the voltage reflection coefficientA matched termination $Z_L=Z_0$ absorbs the incident signal without reflection. An open circuit has ${\Gamma }_L=+1$ and a short circuit has ${\Gamma }_L=-1$. Superposed incident and reflected waves produce standing waves. A sinusoidal lossless line of length $\ell$ transforms the termination intofor the $e^{i\omega t}$ convention. At a quarter wavelength, $Z_{\mathrm{in}}=Z_0^2/Z_L$, allowing impedance transformation. A coaxial line supports a transverse electromagnetic mode whose ideal $L^{\prime },C^{\prime }$ are calculated in A4. Its energy travels in the fields between conductors; the characteristic impedance is not the wire's DC resistance. Losses introduce attenuation and make the characteristic impedance and propagation constant complex.

An ideal short circuit fixes zero electric potential difference across a terminal pair, corresponding to zero load electrical impedance. At the end of a lossless transmission line, its voltage-wave reflection coefficient is $-1$ and the terminal voltage is zero. The available current is still limited by source and circuit impedances; real short circuits can dissipate substantial Joule heating.

On a uniform lossless transmission line, incident and reflected sinusoidal waves give voltage maxima $|V^{+}|(1+|\Gamma |)$ and minima $|V^{+}|(1-|\Gamma |)$. Their ratio is the voltage standing wave ratio, $(1+|\Gamma |)/(1-|\Gamma |)$, where $\Gamma$ is the voltage-wave reflection coefficient. A matched termination gives one, while perfect reflection gives an infinite ratio. These expressions assume a common real characteristic impedance and no propagation attenuation between the compared extrema.

A distributed transmission line with per-unit-length series resistance $R^{\prime }$, series inductance $L^{\prime }$, shunt conductance $G^{\prime }$ and shunt capacitance $C^{\prime }$ obeys the displayed coupled first-order equations by applying Kirchhoff's voltage law and Kirchhoff's current law to a short element. With $R^{\prime }=G^{\prime }=0$, both voltage and current satisfy a wave equation with speed $1/\sqrt{L^{\prime }{C}^{\prime }}$ and characteristic impedance $\sqrt{L^{\prime }/C^{\prime }}$. The quantities $R^{\prime },L^{\prime },G^{\prime },C^{\prime }$ are distributed parameters, not a single lumped resistor or capacitor.

A transmission line guides travelling voltage and current waves. Its distributed electrical properties determine its characteristic impedance. A mismatch at a terminal produces reflected waves; available power, delivered power and returned power are distinct quantities.