Taken from http://us.battle.net/wow/en/forum/topic ... 667?page=2
From 2nd page:
.... 800k is the bare minimum you'd expect from static shock in transitions if you gave it 0 energy during that phase, more likely you'd expect about 1M.
Conduits level up the instant transitions start. Base damage from a level 1 0 energy conduit is 400k, base damage from a level 2 0 energy conduit is 200% of that or 800k. If you fed Static Shock 50 energy in phase, it would be level 2.5, doing 250% damage, or 1M split across the targets. Were you to go super slow in p1 and have it at 80 energy, you'd expect 280% of 400k or 1.12M damage split across the targets....
A lot of QQ on the forums regarding this matter.