The article concerns problems related to the assessment of reactive power in power networks with non-linear, fast-varying loads, such as electric arc furnaces, rolling mill drives, etc. The operation of this type of loads is characterized by the introduction of interharmonic currents (including higher harmonics) into the power supply network and a relatively low power factor. Rapid changes in the RMS value of the current also cause voltage fluctuations and the related phenomenon - flicker. Therefore, there is a need to evaluate the selection of power of compensating devices taking into account the random nature of load changes and the distortion of current and voltage waveforms, in particular interharmonic components, the impact of which has not been fully investigated so far. To analyze the random nature of load changes, autocorrelation functions were used, which allowed for the estimation of the expected values of the arc furnace current distortion coefficient (based on the recorded waveforms). In order to determine the parameters of reactive power compensating devices, and in particular capacitor banks, an autocorrelation function in the exponential-cosine-sine form was used, which meets the conditions of differentiation. The article contains comparative results of calculations of the reactive power of capacitor banks determined using different methods.