Investigations of the electronic structure and optical properties of TmNi5–хСux (х = 0, 1, 2, 3) compounds were performed. Self-consistent calculations of the band spectrum have been performed in the local electron-spin-density approximation with a correction on strong electron interactions within the LSDA + U method. Total and partial densities of electron states associated with thulium, nickel, and copper atoms have been calculated. Optical conductivity, the behavior of which is interpreted for each compound taking into account the performed calculations, has been measured by the ellipsometry method in a wide wavelength range of 0.22–16 μm. Concentration dependences of plasma and relaxation frequencies of conduction electrons have been determined.