Energy assessment is one of the most important parts of water utility performance evaluation. In recent years, many methods for the evaluation of energy transformation in water distribution systems have been presented in the literature. The methods vary in terms of the scope and aim of assessment. The main objective of this paper was to give a review and comparative analysis of the methods for assessing the energy efficiency of water supply systems, which are described in the scientific literature and technical standards. Because the energy assessment of water supply systems is performed for different purposes, it is not possible to indicate one universal method. The main aim of the research was to present and analyze the methods currently in use. The review of different performance assessment methodologies provided information on issues related to the classification of methods, energy balancing, determination of reference values for performance assessment, the use of supporting computer tools, and the importance of data reliability. Gaps, challenges, and possibilities for future research were also described.