In this work, coalescence of a single organic or aqueous drop with its homophase at a horizontal liquid interface was investigated under applied electric fields. The coalescence time was found to decrease for aqueous drops as the applied voltage was increased, regardless of the polarity of the voltage. For organic drops, the coalescence time increased with increasing applied voltage of positive polarity and decreased with increasing applied voltage of negative polarity. Under an electric field, the coalescence time of aqueous drops decreases due to polarization of both the drop and the flat interface. The dependency of organic drop-interface coalescence on the polarity of the electric field may be a result of the negatively charged organic surface in the aqueous phase. Due to the formation of a double layer, organic drops are subjected to an electrostatic force under an electric field, which, depending on the field polarity, can be attractive or repulsive. Pair-drop coalescence of aqueous drops in the organic phase was also studied. Aqueous drop-drop coalescence is facilitated by polarization and drop deformation under applied electric fields. Without applied electric fields, drop deformation increases the drainage time of the liquid film between two approaching drops. Therefore, a decrease in the interfacial tension, which causes drop deformation, accelerates drop-drop coalescence under an electric field and inhibits drop coalescence in the absence of an electric field.