An important part of band theory is that there may be forbidden bands of energy: energy intervals that contain no energy levels. In insulators and semiconductors, the number of electrons is just the right amount to fill a certain integer number of low energy bands, exactly to the boundary. In this case, the Fermi level falls within a band gap. Since there are no available states near the Fermi level, and the electrons are not freely movable, the electronic conductivity is very low.