The paper considers the issue of stealing electric energy as a manifestation of theft, as well as legal solutions derived from the Law on Energetics. The Public Enterprise 'Electric Power industry of Serbia', that is, the state budget, loses over 3 billion dinars a year from electric power thefts, so that social danger that derives from this offence is more than evident. Besides defining the offence in terms of criminal law, the paper itemizes ways of detecting the offence, describes the modus operandi of electric power theft and proposes the methodology of stolen energy audit. Efforts made by the Public Enterprise 'Electric Power Industry of Serbia' to lower the technical and non-technical losses in the transportation and distribution of electric power are different and are being conducted more or less successfully. Special emphasis was given to the action of replacement of electricity meters started by the Public Enterprise 'Electric Power Industry of Serbia', in order to act preventively on lowering technical and non-technical losses during the transportation and distribution of electric power.