At present in the Baltic States power engineering is occurring the passage from the price formation of the electric power cost on the basis of the fixed tariffs to the competitory market for the price formation. The main mover of this problem solution is the creation of the electric power competitory market in the Baltic States. The power systems of the Baltic States attempt to the energy market liberalization by the different ways. This requires the corresponding Directives of the EUROPEAN UNION. If the large Europe States can allow themselves the search for the ways of the local electric power markets liberalization, then the development of power engineering of our small states is impossible without the joint collaboration. The solution of the problem of the globalization for the electric power production, transfer and distribution under the free energy market conditions will make it possible to agree on the questions of the reliability of the multiple operation for the Baltic States EPS in all cases of their functioning. The realization of these purposes is impossible without the modernization of the existing power stations and building new that use contemporary technologies and equipment. All this must be directed toward the creation of the effective market for electric power, which provides for reduction in the price of the electric power