An electric power switch suitable as a capacitor, line and load switch for transmission and distribution voltages includes an external actuator controlled by current transformers (CTs) mounted on live tanks comprising insulators forming dielectric containers that house the contactors of the switch. The CTs are located on the outside of the insulators in the regions of the insulators overlying the internal contactors between the upper and lower high voltage line taps. The actuator and controller may also be located outside the dielectric container, as desired. This configuration minimizes the size of the dielectric container and removes the severe size constraint inherent in design conventional “live tank” switch designs, while also avoiding the need for separate line-mounted CTs. This design also avoids the need for a separate grounded “dead tank” to house the CTs, which are more conveniently located in the outside of the insulators.