Analysis of operating conditions and development of power industry of the Republic of Côte d'Ivoire is conducted. One of the features of the economic relations in power industry of the republic is lack of uniform methodical approach to calculation of tariffs for generation of electric energy. These tariffs are formed on a contractual basis between the government and the generation companies. Such practice is often economically ineffective and is not quite transparent for other participants of the electrical power market. The paper sees into specific features of the electric power and capacity market organization of the Republic of Côte d'Ivoire as well as prospects of its development. Comparative assessment of efficiency of various generating sources functioning is presented. Need for diversification of generation structure so as to increase the level of reliability of power supply to consumers of the republic is identified. The different ratio of capacities between various types of the generating sources forms various prime cost of electricity generation. An economic and mathematical model has been worked out to define an optimum level of electric power tariffs by means of optimizing the structure of the generating capacities of the power supply system of the Republic of Côte d'Ivoire including various restrictions on power generation (size of capacities, high voltage line capacity, maneuverable opportunities of the generating equipment, impact on the environment and size of capital investments allocated for commissioning new power facilities) providing the normalized reliability level of power supply. The problem of optimization of the generating sources structure includes determining the volumes of capacities to be commissioned for different types of power plants where various types of fuel are used. The presented model of electricity tariff formation is substantially focused on justifying the choice of different types of generating sources in the long-run. It gives an accurate reference point for selecting the direction of further development of the power industry of the Republic of Côte d'Ivoire on a long-term basis. The optimum generation structure of the republic providing which would provide high reliability of power supply to consumers at the minimum possible level of electricity price has been assessed.