We prove that the matrix of capacitance in electrostatics is a positive-singular matrix with a non-degenerate null eigenvalue. We explore the physical implications of this fact, and study the physical meaning of the eigenvalue problem for such a matrix. Many properties are easily visualized by constructing a "potential space" isomorphic to the euclidean space. The problem of minimizing the internal energy of a system of conductors under constraints is considered, and an equivalent capacitance for an arbitrary number of conductors is obtained. Moreover, some properties of systems of conductors in successive embedding are examined. Finally, we discuss some issues concerning the gauge invariance of the formulation.