In order to contribute to the discussion of defining a generalized power theory, valid for unbalanced and non linear circuits, this paper discusses the relationship and discrepancies among four modern power theories. Three-phase four-wire circuits, under different conditions, have been analyzed, since the most conflicting and intriguing interpretations take place in case of return conductor occurrence. Simulation results of different load, power supply and line conditions will be discussed in order to elucidate the author's conclusions and to provoke the readers for additional discussions. © 2010 IEEE.