In paper the economic estimation of measures on modernization of transformer base using the generalized mathematical model is given. The particular mathematical models for estimation of concrete measures have been received from the generalized mathematical model. The total annual discounted costs for transformer’s whole life cycle are offered as the objective function and its optimum decision is the maximum of profit from measure’s realization. This task is solved under the conditions of deficit of the investments in the Latvian Power Company. The comparison of economic estimations for different technical measures on basis of the generalized mathematical model are fulfilled.