The power is the use of energy per unit time. The magnetic counter part of the electric charge is the magnetic monopole. So far we have not observes a single monopole. Magnetic poles come in pairs of N-S poles. Like magnetic poles repel each other, while unlike magnetic poles attract each other.
Permanent magnets have iron atoms where the poles are lined up to add to each other.
Whenever there is an electric current, a magnetic field is created. A moving charge in a magnetic field will experience a force. A current will produce a magnetic field. An alternating current will produce a magnetic field that changes polarity. Rotating coil in a magnetic field produces current.