Which of the following is a major hazard of using electrical equipment near water?

The risk of electric shock is a major hazard when using electrical equipment near water due to the increased conductivity of water. Water can create a path for electrical current to flow, which poses a significant danger to anyone who may come into contact with both water and electrical equipment. This risk is further amplified if the electrical equipment is not properly grounded or if insulation is compromised, making it critical for safety protocols to address the potential for electric shock in environments where water is present.

The other options, while they may be relevant to electrical systems in some contexts, do not directly pertain to the immediate and severe risks associated with water presence. Increased maintenance costs can occur due to water damage over time but are not an immediate hazard. Reduced equipment performance and higher energy consumption can be issues within electrical systems, but they do not compare to the life-threatening risk of electric shock that water poses when interacting with electricity. Therefore, recognizing the risk of electric shock is essential for ensuring safety in environments involving electrical equipment and water.