This contribution investigates the connection between Isogeometric Analysis (IgA) and the Partial Element Equivalent Circuit (PEEC) method for electrostatic problems. We demonstrate that using the spline-based geometry concepts from IgA allows for extracting circuit elements without an explicit meshing step. Moreover, the proposed IgA-PEEC method converges for complex geometries up to three times faster than the conventional PEEC approach and, in turn, it requires a significantly lower number of degrees of freedom to solve a problem with comparable accuracy. The resulting method is closely related to the isogeometric boundary element method. However, it uses lowest-order basis functions to allow for straightforward physical and circuit interpretations. The findings are validated by an analytical example with complex geometry, i.e., significant curvature, and by a realistic model of a surge arrester.