In residences built before 1996, the National Electric Code (NEC) required only a 3-prong outlet for electric dryers and ranges. As safety requirements became more stringent, the NEC began requiring a 4-prong outlet for new installations of circuits that provide power to these appliances. For new homes under construction, or for existing homes that
convert from gas appliances to electric appliances, it is now required to install the 4-prong outlets.
The reason for this is safety. The older 3-prong outlets connected the neutral and ground wires together. This opened up the possibility of current flowing on to the ground wire and could lead to the metal frame of the stove or dryer becoming energized. If this happened, the result could be a shock delivered to the user when touching the appliance. So what is a person to do when they get home and find that their new appliance won’t fit the old outlet on their wall? You simply replace the appliance cord. Most retailers that deal in appliances, and even many big box retailers sell replacement cords for dryers and stoves.