Abstract: The method consists in generating periodically shock waves by initiating the electric discharge in a fluid filling in the well between the electrodes. To initiate the electric discharge, a current-conducting fluid comprising a dielectric fluid and a current-conducting powder material is fed additionally between the electrodes. The device for carrying the method into effect comprises a discharge chamber (5) with positive and negative a system of feeding an initials between the electrodes (3, 4), a system of feeding an initiator between the electrodes (3, 4), electrodes (3, 4), and a surge current generator (2). The device has at least one metering valve (12) with a drive (13) and an additional chamber (9) filled in with a dielectric fluid. A duct (10) having a pressure spool valve (11) is provided in the wall of the additional chamber (9). Inlet and outlet holes (7, 6) are provided in the wall of the discharge chamber (5).