This paper is focused on the analysis of supply voltage and frequency quality in low voltage and medium voltage distribution power systems. The influence of supply voltage and frequency variations, within the limits defined in the valid standards, on the power network’s parameters has been evaluated using the stochastic theory and the statistical analysis methods. The circuit of RLC-load was considered for numerical evaluation. The probability distribution of supply voltage and frequency was defined and the suggestions on optimum voltage and frequency quality parameters regarding electric energy consumption, power losses and electrical equipment lifespan were given.