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That is mind blowing. Our brains cannot comprehend the enormity of it.

But is it the full power of the entire life of millions of suns or the equivalent of what millions of suns produce in a millisecond?

Power is by definition per unit time.

Although these bursts are coming from a place where time is rather more spread out than it is here.

What does that mean!? Might a millisecond there last as long as a few of our Earth seconds? What is this concept called ( for me to read up on it)?

I think this is a good place to have a look : https://en.wikipedia.org/wiki/Gravitational_time_dilation

My assumption is that the place that this burst is coming from is near a very large, very dense mass.

That wasn't a joke on units of measurement. It was a joke on grammar.

Sounds like a Gamma Ray

No, radio, the other end of the spectrum. That's why they are called Fast Radio Bursts (FRB). Gamma Ray Bursts (GRB) are (probably) something completely different.