Abstract. The innovative basis for the development of the electric power industry is the basis for increasing the competitiveness of the economy as a whole. The purpose of the study is to develop a model for assessing the efficiency of innovation activity of enterprises of the electric power industry. The paper reveals a set of external macroeconomic factors that require adaptation of the innovation activity of the enterprise. A system of criteria for assessing the efficiency of innovation activity of enterprises of the electric power industry was developed. The approach to the selection of rational management decisions to improve the efficiency of innovation activity of enterprises of the electric power industry is substantiated. It assumes the choice of the reference enterprise based on the analysis of the state of innovation activity of the enterprise, as well as the assessment of the level and reserves of increasing the efficiency of innovation activity by group criteria.