| Summary: | The energy complex is an important part for the development of the economy of any country. At the same time, the Russian electricity sector is one of the most problematic. Therefore, the work considers the socio-economic aspects of the development of energy companies in the Arctic zone. To achieve this goal, the authors used systemic, structural, analytical, comparative methods. It has been established that the current technical and economic condition of the Russian electric power industry should be improved in order to develop ways to overcome it from the crisis. The paper analyzes normative acts that provide solutions to the energy problems of Russia in general and the Arctic in particular. It was determined that in the Arctic region, the priority in the construction of energy facilities based on renewable energy sources is the development of power plant construction projects using innovative technical solutions that provide minimal environmental risks and reliable operation in various climatic conditions. Keywords: energy saving potential, public sector, power plants, modernization. JEL Classifications: A14, H10, Q40 DOI: https://doi.org/10.32479/ijeep.7151
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