An LPEG (Low Powered Electric Gun) is a low powered electric airsoft gun.
As LPEG is at best a vague, ambiguous term. The quality of AEGs that fall under this category hugely varies. LPEGs can be from well-built and reliable to of questionable workmanship. But in general, LPEGs are of inferior quality to much more expensive AEGs, relegating the use of the LPEG to entry-level players.
LPEG weapons are wholly outperformed by their Middle and High-end counterparts. Muzzle velocities range from 200-300 FPS, usually no higher or lesser. Accuracy is mostly in correlation with the quality of Airsoft BB's used. To compensate for varying FPS and accuracy, some LPEG rifles are packaged with High-Capacity Magazines, destroying the need for carefully aimed fire and replacing it with fully-automatic "spraying" of a general area.