The effect of an electric field on the formation of a drop of an inviscid, perfectly conducting liquid from a capillary which protrudes from, the top plate of a parallel-plate capacitor into a surrounding dynamically inactive, insulating gas is studied computationally. This free boundary problem which is comprised of the surface Bernoulli equation for the transient drop shape and the Laplace equation for the velocity potential inside the drop and the electrostatic potential outside the drop is solved by a method of lines incorporating the finite element method for spatial discretization. The finite element algorithm employed relies on judicious use of remeshing and element addition to a two-region adaptive mesh to accommodate large domain deformations, and allows the computations to proceed until the thickness of the neck connecting an about to form drop to the rest of the liquid in the capillary is less than 0.1% of the capillary radius. The accuracy of the computations is demonstrated by showing that in the absence of an electric field predictions made with the new algorithm are in excellent agreement with boundary integral calculations (Schulkes, R M. S. M. J. Fluid Mech. 278, 83 (1994)) and experimental measurements on water drops (Zhang, X., and Basaran, O. A. Phys. Fluids 7(6), 1184 (1995)). In the presence of an electric field, the algorithm predicts that as the strength of the applied held increases, the mode of drop formation changes from simple dripping to jetting to so-called microdripping, in accordance with experimental observations (Cloupeau, M., and Prunet-Foch, B. J. Aerosol Sci. 25(6), 1021 (1994); Zhang, X., and Basaran, O. A. J. Fluid Mech. 326, 239 (1996)). Computational predictions of the primary drop volume and drop length at breakup are reported over a wide range of values of the ratios of electrical, gravitational, and inertial forces to surface tension force. In contrast to previously mentioned cases where both the flow rate in the tube and the electric field strength are nonzero, situations are also considered in which the flow rate is zero and the dynamics are initiated by impulsively changing the field strength from a certain value to a larger value. When the magnitude of the step change in field strength is small, the results of the new transient calculations accord well with those of an earlier stability analysis (Basaran, O. A., and Scriven, L. E. J. Colloid Interface Sci. 140(1), 10 (1990)) and thereby provide yet another testament to the accuracy of the new algorithm.