What is it?

CeEPwrSvc.exe is associated with Toshiba power management software.

What does it do?

must have something to do with a laptops battery and how it's power is managed.
Hopefully so that the battery lasts longer, because we all know a laptop's battery needs to last longer ;)

More info:

Since not much is known about this file at this time, keep an eye on this google search for any association with malware.