The paper analyzes the current state of the energy system of Ukraine and the efficiency of generation and transmission of electricity. The analysis of the best world practices shows that the active development of modern technologies of energy accounting allows: to bring to a fundamentally new level the quality of data collection and analysis of consumers’ energy consumption; increases the efficiency of operational management of energy assets; promotes the active involvement of energy consumers in the processes of regulating their own energy consumption. Ukraine's energy system has been in operation for quite a long time, and it is difficult for it to withstand the load of modern times. The high level of wear of the main and auxiliary equipment of the power system and the uneven distribution of load in the network often lead to emergencies and power outages to consumers. Undoubtedly, increasing the efficiency of electricitygeneration and supply is an important and urgent task for Ukraine's energy sector. One of the modern and innovative concepts that can significantly affect the quality of electricity transmission is Smart Grid technology. This technology and its capabilities are not new. But the problems that accompany the widespread introduction of Smart Grid in the energy market of Ukraine do not have an unambiguous and effective solution. In this regard, this paper proposes to consider and discuss several scenarios for the implementation of Smart Grid in Ukraine, with an overview of their advantages and disadvantages. In particular, this is a scenario of monitoring and point-by-point implementation of certain Smart Grid technologies; scenario of development of existing and creation of new competencies in the field of Smart Grid; scenario of development and re-implementation of a comprehensive national program of innovative development of electric power on the basis of the Smart Grid concept. The ways of mathematical formulation of the Smart Grid optimization problem using the Data Science approach based on the machine learning system and neural networks are determined separately. These include Big Data processing methods, Data Mining, statistical methods, artificial intelligence methods, and Machine Learning. Data Science includes methods of designing and developing databases and application software. The main practical purpose of the scientist's work is to extract useful information for business from large arrays of information, identify patterns, develop and test hypotheses by modeling and developing new software, and therefore are necessary and sufficient conditions for theoretical justification of practical implementation of Smart Grid in Ukraine.