It has been substantiated that it is necessary to improve the efficiency of prearranged measures for eliminating emergencies in the power industry. Effective information traffic was determined as a foundation for decreasing the economic damage from emergency situations. The legal basis of the existing system of information traffic and the basic principles of the state policy of the Russian Federation in this area have been identified. The monitoring of risks has been categorized by type of organization performing the monitoring. The procedure of information traffic aimed at preventing and controlling emergencies in Russian Federation was structured. We have developed propositions on increasing the efficiency of the interactions between the concerned parties as a part of the monitoring system in the power industry for reducing the reaction time and economic damage from emergency situations. We have defined the principal directions of development of the monitoring system in the power industry: organizational, technical and international co-operation.