The paper describes the manifestation of the main trends in the development of the modern Russian power industry: diversification, decarbonization, decentralization, digitization. The prerequisites for these transformations have been identified not only as a result of scientific and technological progress but also in response to global challenges related to social and environmental issues and global climate change. Special attention is paid to government regulation of industry transformations; the author’s participation in practical activities in energy supply to the largest vertically integrated oil company LUKOIL allowed to substantiate the conclusions with specific figures and examples. The most important feature of the current stage of the industry’s transformation is emergence of a special class of energy market participants, prosumers, who have the opportunity to generate their own electricity (distributed generation, including use of renewable energy sources), as well as to participate in the newly created market for price-dependent consumption reduction (negative capacity sales). Analysis of price dynamics is performed, as well as analysis of supply and demand for a new product on the energy market, negative power. The growth forecast for this market in the Russian power industry is made. Based on analysis of modern development trends of electric power, markets measures are proposed to improve mechanisms of industry regulation in order to harmonize the interests of investors and market participants: consumers, energy producers and infrastructure. Specific clarifications and additions to the project of Energy Strategy of the Russian Federation until 2035 are given, including the proposed legalization of the rapidly growing highly efficient electricity sector with the participation of new market participants, prosumers, for distributed generation.