The shark in the circuit room grabs Scoggins (Michael Rapaport's character) and slams him into a circuit panel. Sparks shoot out. Ummm, the panel, the shark, and Carter Blake nearby are all underwater: they'd all electrocute. But they don't.

This makes even less sense because a few minutes later the head scientist, Susan, electrocutes a shark and takes precautions to avoid the very same thing by using her wet suit (although this is also an error, because the wet suit is soaking wet and on top of a wet shelf). If she'd seen the scene earlier in the movie she would have known she didn't have to bother.