It is well established that power is connected to networks, yet structural theories of power in network analysis fail to satisfy political sociologists. Centrality is generally put forward as a measure of power, but this is not enough for political sociology. This article puts forward a theory of power that brings power resources and power dependency theory to the study of social networks concerning political coalitions in an urban polity. Within this theory of power resources, we embed power theories based on dependence (exchange theories) with power being based on the inverse of the expected value of alternative courses of action, and social network analysis focused on networks of powerful actors with significant power resources. The use of social networks depends on the formation of coalitions of powerful individuals and groups who then engage in political bargaining with other coalitions who want a different outcome. This synthetic theory is illustrated with two examples of economic development and political conflict in a moderately sized city.