Conduction and implementation of reforms in the energy sector are prerequisites for the achievement and increase of economic growth and development of R.Serbia. Electric power industry has a significant role in the achievement of economic development. Serbia is considered for the leader in this area in the Balkans, therefore it is necessary to make the transformation and changes in this sector. The reform process is focused on the price policy, investments in new and reconstruction of old capacities, as well as development and liberalisation of electricity market. Due to this reason assessment of the state and further perspectives of development Electric power industry of Serbia is of special importance.