Wave energy conversion to produce electricity uses wave-engaging articulated, forward and after barges connected to a center inertial barge. A damper plate attached to the central barge minimizes heaving to increase stability. The barges use composite materials, steel or other materials that can withstand the impact and wear caused by a corrosive weather environment. A movable ballast weight in each barge adjusts the mass moment of inertia, and changes the natural pitching frequency. Electrical energy is generated from the motions of the barges and the movement of the movable ballast weights being converted by linear induction motor/generators and/or Pelton Wheel hydraulic systems connected to electrical generators. A dynamic computer control system controls the energy generating system to keep the forward/after barges and the movable ballast moving in phase with the wave excitation force. During dangerous wave action, the system is submerged and then re-surfaced when the waves have subsided.