The results of reforms in the Russian electric power industry and the main problems facing the industry that hinder not only its development, but also reduce the efficiency of its operation are presented. The analysis of the current regulatory framework in the electric power industry is provided.It is shown that the ongoing process of digitalization and intellectualization of the electric power industry will fail to attain its full potential unless large-scale technological modernization of the industry is implemented, and both directions should be pursued simultaneously. The wholesale and retail electricity and capacity markets created, as a result of the electricity reform are of low efficiency and call for introducing significant changes. In order to carry out the necessary transformations, some priority measures are proposed to improve the state of affairs in the Russian electric power industry and ensure its prospective development.
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