The Electric Wrench works the same as the Bronze Wrench, but instead of taking wear and tear with use, it uses electricity. Thus, it will never wear out, like Mining Drills. It can be charged in BatBoxes and other storage devices, as well as by batteries.
The Electric Wrench has 2 different modes. You can switch between Lossless and Normal mode, Lossless will use a lot of more power, but you'll not lose your device. You switch modes by holding the M key and right-click.