It is necessary to take into account complex variation of three main mutually related parameters of steel making process, i. e. its power, ecological and economical efficiency, during steel making in electric arc furnaces with more and more wide usage of alternative energy carriers. As a result, the elements of converting process that is characterized by higher power efficiency ratio, are realized in electric arc furnace. It leads to saving electric power, corresponding lowering of total power consumption and amount of carbon dioxide emitted in the atmosphere.