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In this study a stochastic model to describe the behaviour of an articulated system is developed.Optimal mechanical damping and spring coefficients are computed. Probability density functions are defined for the relevant parameters that characterize the device behaviour. For these parameters and for different sea state conditions the probability density functions are found and the articulated system is characterized in terms of these functions. Average values for useful power and capture width are also obtained for these sea state conditions. Time domain models allow the computation of time series for the variables that chracterize the wave power system behaviour. In this study a time domain model is also developed for the articulated wave power device. Results are obtained for regular and irregular waves. Pontryagin Maximum Principle is presented as an algorithm for the control of the device.