2,5-Bis(phenylethynyl)-1,3,4-thiadiazole (PhEtTh) and 2,5-diphenyl-1,3,4-thiadiazole (PhTh) are expected to be building blocks for polymer materials that could be employed to conduct electricity due to their narrow highest occupied molecular orbital-lowest unoccupied molecular orbital (HOMO-LUMO) energy gaps. In this work, a theoretical, comparative study about the effect of the ethynyl group on the planarity and electrical conductivity of this kind of systems has been carried out. Thus, several ab initio (Hartree-Fock, Moller-Plesset) and DFT (B3LYP, B3PW91, M05, M05-2X) methods and basis sets (6-31G(*), 6-31G+G(**), 6-311G(**), cc-pVDZ, cc-pVTZ) have been tested. As a result, PhEtTh showed better properties for its use as electric conducting material relative to PhTh due to its smaller HOMO-LUMO gap, as well as its enhanced trend to retain the planarity provided the reduction in steric hindrances that the ethynyl group (-C[triple bond]C-) permits. Solvent effects were also modeled for ethanol and chloroform under the conductor-like polarizable continuum model approximation. Finally, electronic transitions in gas and solution phases were predicted by using TDDFT approximation in order to compare the theoretical lambda(max) with the experimental values reported in literature for both compounds.