The lake basin is a major source of granite, marble and black schist in Russia which have been exploited in the area since the early 18th century. Also advanced is metallurgy, especially in the Petrozavodsk area which produces about 25% of industrial products of Karelia. Water level of the lake is controlled by the Nizhnesvirskaya (, "Lower Svir") and Verkhnesvirskaya (, "Upper Svir") hydroelectric power plants. The former was built between 1927 and 1938 and has a peak power of 99 MW. The construction of Verkhnesvirskaya plant started in 1938, but was interrupted by World War II and could only be resumed in 1947. The plant was completed in 1952 and provided 160 MW of electric power. The associated with the plant Verkhnesvirsk Reservoir has an area of and volume of , i.e. almost the same as those of Onega Lake. Its construction raised the water level of the lake by .