In this work, we show that in the wireless relay network, a tremendous savings in energy can be achieved by having side information at the transmitters and by employing power control. We present efficient protocols and the corresponding optimal power control policies that approach the universal lower bound on the outage probability of the block fading relay channel. Each of the proposed protocols have their own utility for specific channel conditions. However, a hybrid protocol between two known coding schemes is the best scheme for all channel conditions and is sufficient to approach the lower bound on outage probability. Unlike the single link channel, we show that exploiting the knowledge of the channel at the transmitters can significantly lower the outage even if the transmit powers at the source and relay have to be kept constant. In this case, it is also demonstrated that the lower bound on outage is closely followed by the outage probability of the hybrid protocol. Our results reveal that exploiting the right network protocol in conjunction with power control result in orders of magnitude savings in power over direct transmission for a target performance level.