I have a level 47 Elec/Elec scrapper (Terry Watt). Electric Armor is certainly a fairly squishy set, and I get some of my mitigation via pure "kill them first" with an alpha strike of build up/lightning rod/chain induction/thunderstrike.
But now that Terry is relatively built out, I haven't had many fragility problems. I brokered Quickness and set bonuses into presently 47.5% global recharge, plus Hasten, which makes Energize come back quite quickly. And then I've built up 32% Melee defense (and assorted other defenses in the process, of course).
One thing I'd caution people about: lots of the people first interacted with Electric Armor as a Brute set, and tend to overemphasize the tier 9, which, in my experience is, nice enough, but certainly not wonderful on a Scrapper with their lower resists. It's not a panic button, there's no point in clicking it when you have under 10% health, and it won't save you from situations where you're completely in over your head. It's nice if you use it proactively, early in a combat in which you're just a little overmatched in. Purple insps are a much better panic button.
You definitely can get a fairly effective secondary/tertiary amount of mitigation out of Power Sink. I don't lead with it -- I trust my damage resistance and defense to handle alpha, and then after my initial barrage I usually Power Sink and Energize while I wait for my better attacks to cycle back.
