diff --git a/core/src/main/java/org/apache/calcite/adapter/enumerable/RexImpTable.java b/core/src/main/java/org/apache/calcite/adapter/enumerable/RexImpTable.java
index 33e4ba102f9..acb7c9e5f08 100644
--- a/core/src/main/java/org/apache/calcite/adapter/enumerable/RexImpTable.java
+++ b/core/src/main/java/org/apache/calcite/adapter/enumerable/RexImpTable.java
@@ -232,6 +232,7 @@
 import static org.apache.calcite.sql.fun.SqlLibraryOperators.PARSE_TIMESTAMP;
 import static org.apache.calcite.sql.fun.SqlLibraryOperators.PARSE_URL;
 import static org.apache.calcite.sql.fun.SqlLibraryOperators.POW;
+import static org.apache.calcite.sql.fun.SqlLibraryOperators.POWER_PG;
 import static org.apache.calcite.sql.fun.SqlLibraryOperators.RANDOM;
 import static org.apache.calcite.sql.fun.SqlLibraryOperators.REGEXP;
 import static org.apache.calcite.sql.fun.SqlLibraryOperators.REGEXP_CONTAINS;
@@ -644,6 +645,7 @@ Builder populate() {
       defineMethod(MOD, BuiltInMethod.MOD.method, NullPolicy.STRICT);
       defineMethod(EXP, BuiltInMethod.EXP.method, NullPolicy.STRICT);
       defineMethod(POWER, BuiltInMethod.POWER.method, NullPolicy.STRICT);
+      defineMethod(POWER_PG, BuiltInMethod.POWER_PG.method, NullPolicy.STRICT);
       defineMethod(ABS, BuiltInMethod.ABS.method, NullPolicy.STRICT);
       defineMethod(LOG2, BuiltInMethod.LOG2.method, NullPolicy.STRICT);
 
diff --git a/core/src/main/java/org/apache/calcite/sql/fun/SqlLibraryOperators.java b/core/src/main/java/org/apache/calcite/sql/fun/SqlLibraryOperators.java
index 6996ecb3160..fe94fecd7ca 100644
--- a/core/src/main/java/org/apache/calcite/sql/fun/SqlLibraryOperators.java
+++ b/core/src/main/java/org/apache/calcite/sql/fun/SqlLibraryOperators.java
@@ -2216,7 +2216,22 @@ private static RelDataType deriveTypeMapFromEntries(SqlOperatorBinding opBinding
 
   @LibraryOperator(libraries = {BIG_QUERY, SPARK})
   public static final SqlFunction POW =
-      SqlStdOperatorTable.POWER.withName("POW");
+      SqlBasicFunction.create("POW",
+          ReturnTypes.DOUBLE_NULLABLE,
+          OperandTypes.NUMERIC_NUMERIC,
+          SqlFunctionCategory.NUMERIC);
+
+  /** The {@code POWER(numeric, numeric)} function.
+   *
+   * <p>The return type is {@code DECIMAL} if either argument is a
+   * {@code DECIMAL}. In all other cases, the return type is a double.
+   */
+  @LibraryOperator(libraries = { POSTGRESQL })
+  public static final SqlFunction POWER_PG =
+      SqlBasicFunction.create("POWER",
+          ReturnTypes.DECIMAL_OR_DOUBLE_NULLABLE,
+          OperandTypes.NUMERIC_NUMERIC,
+          SqlFunctionCategory.NUMERIC);
 
   /** The "TRUNC(numeric1 [, integer2])" function. Identical to the standard <code>TRUNCATE</code>
   * function except the return type should be a double if numeric1 is an integer. */
diff --git a/core/src/main/java/org/apache/calcite/sql/type/ReturnTypes.java b/core/src/main/java/org/apache/calcite/sql/type/ReturnTypes.java
index 386ed96fb91..eb7f9e44717 100644
--- a/core/src/main/java/org/apache/calcite/sql/type/ReturnTypes.java
+++ b/core/src/main/java/org/apache/calcite/sql/type/ReturnTypes.java
@@ -773,6 +773,32 @@ public static SqlCall stripSeparator(SqlCall call) {
     return null;
   };
 
+  /**
+   * Type-inference strategy that returns DECIMAL if any of the arguments are DECIMAL. It
+   * will return DOUBLE in all other cases.
+   */
+  public static final SqlReturnTypeInference DECIMAL_OR_DOUBLE = opBinding -> {
+    boolean haveDecimal = false;
+    for (int i = 0; i < opBinding.getOperandCount(); i++) {
+      if (SqlTypeUtil.isDecimal(opBinding.getOperandType(i))) {
+        haveDecimal = true;
+        break;
+      }
+    }
+
+    if (haveDecimal) {
+      return opBinding.getTypeFactory().createSqlType(
+          SqlTypeName.DECIMAL,
+          17);
+    } else {
+      return RelDataTypeImpl.proto(SqlTypeName.DOUBLE, false)
+          .apply(opBinding.getTypeFactory());
+    }
+  };
+
+  public static final SqlReturnTypeInference DECIMAL_OR_DOUBLE_NULLABLE =
+      DECIMAL_OR_DOUBLE.andThen(SqlTypeTransforms.TO_NULLABLE);
+
   /**
    * Type-inference strategy whereby the result type of a call is
    * {@link #DECIMAL_SCALE0} with a fallback to {@link #ARG0} This rule
diff --git a/core/src/main/java/org/apache/calcite/util/BuiltInMethod.java b/core/src/main/java/org/apache/calcite/util/BuiltInMethod.java
index d13dada6a6b..a70d333541d 100644
--- a/core/src/main/java/org/apache/calcite/util/BuiltInMethod.java
+++ b/core/src/main/java/org/apache/calcite/util/BuiltInMethod.java
@@ -374,6 +374,7 @@ public enum BuiltInMethod {
   EXP(SqlFunctions.class, "exp", double.class),
   MOD(SqlFunctions.class, "mod", long.class, long.class),
   POWER(SqlFunctions.class, "power", double.class, double.class),
+  POWER_PG(SqlFunctions.class, "power", BigDecimal.class, BigDecimal.class),
   REPEAT(SqlFunctions.class, "repeat", String.class, int.class),
   SPACE(SqlFunctions.class, "space", int.class),
   SPLIT(SqlFunctions.class, "split", String.class),
diff --git a/site/_docs/reference.md b/site/_docs/reference.md
index e9d175a259f..8a23f9338c2 100644
--- a/site/_docs/reference.md
+++ b/site/_docs/reference.md
@@ -2820,6 +2820,7 @@ In the following:
 | b | PARSE_TIMESTAMP(format, string[, timeZone])    | Uses format specified by *format* to convert *string* representation of timestamp to a TIMESTAMP WITH LOCAL TIME ZONE value in *timeZone*
 | h s | PARSE_URL(urlString, partToExtract [, keyToExtract] ) | Returns the specified *partToExtract* from the *urlString*. Valid values for *partToExtract* include HOST, PATH, QUERY, REF, PROTOCOL, AUTHORITY, FILE, and USERINFO. *keyToExtract* specifies which query to extract
 | b s | POW(numeric1, numeric2)                      | Returns *numeric1* raised to the power *numeric2*
+| b c h q m o f s p | POWER(numeric1, numeric2) | Returns *numeric1* raised to the power of *numeric2*
 | p | RANDOM()                                       | Generates a random double between 0 and 1 inclusive
 | s | REGEXP(string, regexp)                         | Equivalent to `string1 RLIKE string2`
 | b | REGEXP_CONTAINS(string, regexp)                | Returns whether *string* is a partial match for the *regexp*
diff --git a/testkit/src/main/java/org/apache/calcite/test/SqlOperatorTest.java b/testkit/src/main/java/org/apache/calcite/test/SqlOperatorTest.java
index 05ced8e9946..3402b924297 100644
--- a/testkit/src/main/java/org/apache/calcite/test/SqlOperatorTest.java
+++ b/testkit/src/main/java/org/apache/calcite/test/SqlOperatorTest.java
@@ -47,6 +47,7 @@
 import org.apache.calcite.sql.dialect.AnsiSqlDialect;
 import org.apache.calcite.sql.fun.LibraryOperator;
 import org.apache.calcite.sql.fun.SqlLibrary;
+import org.apache.calcite.sql.fun.SqlLibraryOperatorTableFactory;
 import org.apache.calcite.sql.fun.SqlLibraryOperators;
 import org.apache.calcite.sql.fun.SqlStdOperatorTable;
 import org.apache.calcite.sql.parser.SqlParseException;
@@ -63,6 +64,7 @@
 import org.apache.calcite.sql.type.SqlOperandTypeChecker;
 import org.apache.calcite.sql.type.SqlTypeName;
 import org.apache.calcite.sql.type.SqlTypeUtil;
+import org.apache.calcite.sql.util.SqlOperatorTables;
 import org.apache.calcite.sql.util.SqlString;
 import org.apache.calcite.sql.validate.SqlConformanceEnum;
 import org.apache.calcite.sql.validate.SqlNameMatchers;
@@ -6493,6 +6495,9 @@ void checkRegexpExtract(SqlOperatorFixture f0, FunctionAlias functionAlias) {
     final SqlOperatorFixture f = fixture();
     f.setFor(SqlStdOperatorTable.POWER, VmName.EXPAND);
     f.checkScalarApprox("power(2,-2)", "DOUBLE NOT NULL", isExactly("0.25"));
+    f.checkScalarApprox("power(cast(2 as decimal), cast(-2 as decimal))",
+        "DOUBLE NOT NULL",
+        isExactly("0.25"));
     f.checkNull("power(cast(null as integer),2)");
     f.checkNull("power(2,cast(null as double))");
 
@@ -6502,6 +6507,31 @@ void checkRegexpExtract(SqlOperatorFixture f0, FunctionAlias functionAlias) {
         false);
   }
 
+  @Test void testPowerDecimalFunc() {
+    final SqlOperatorFixture f = fixture()
+        .withOperatorTable(
+            SqlOperatorTables.chain(
+            SqlLibraryOperatorTableFactory.INSTANCE.getOperatorTable(
+                ImmutableList.of(SqlLibrary.POSTGRESQL, SqlLibrary.ALL),
+                false),
+            SqlStdOperatorTable.instance()))
+        .setFor(SqlLibraryOperators.POWER_PG);
+    f.checkScalarApprox("power(cast(2 as decimal), cast(-2 as decimal))",
+        "DECIMAL(17, 0) NOT NULL",
+        isExactly("0.25"));
+    f.checkScalarApprox("power(cast(2 as decimal), -2)",
+        "DECIMAL(17, 0) NOT NULL",
+        isExactly("0.25"));
+    f.checkScalarApprox("power(2, cast(-2 as decimal))",
+        "DECIMAL(17, 0) NOT NULL",
+        isExactly("0.25"));
+    f.checkScalarApprox("power(2, -2)", "DOUBLE NOT NULL", isExactly("0.25"));
+    f.checkScalarApprox("power(CAST(0.25 AS DOUBLE), CAST(0.5 AS DOUBLE))",
+        "DOUBLE NOT NULL", isExactly("0.5"));
+    f.checkNull("power(null, -2)");
+    f.checkNull("power(2, null)");
+  }
+
   @Test void testSqrtFunc() {
     final SqlOperatorFixture f = fixture();
     f.setFor(SqlStdOperatorTable.SQRT, VmName.EXPAND);