A method for identifying the discrete instantaneous angular speed of electromechanical systems in which electrical rotating machinery is used and in which at least one electrical signal is measured during an operation of the electromechanical system. The method includes measuring analog stator current signals and analog stator voltage signals for at least one phase A, B, C, converting the measurements into a digital discrete form, transmitting the digital discrete signals to a computer device wherein data analysis is performed in a processor unit on the basis of a simplified mathematical model of the dynamics of the motor or generator. During the data analysis an average rotor time constant is calculated, an average supply frequency value is identified, an average angular speed is obtained, and an instantaneous phase difference between the discrete stator current signals and the discrete stator voltage signals is determined. The discrete instantaneous angular speed is identified by combining the average supply frequency value, the instantaneous phase difference between the discrete stator current signals and the discrete stator voltage signals, the average rotor time constant, and a number of pole pairs of the electric motor, given by the user. The result of combining the data is stored in a memory of the processor unit.