The Energy Policy Act of 2005 makes human resource challenges even more significant.
Michael B. Brown is a senior consultant with Hay Group’s National Energy Practice, where he serves as the practice leader for the ISO/Transco and RTO sector. He can be reached at firstname.lastname@example.org.
As the industry struggles to address the awesome challenge resulting from the near-term retirement of the baby boomers—approximately 40 to 50 percent of the industry—a more complex and threatening storm is building that is sure to bring the industry to its knees.
Hidden in the 1,700-plus detailed pages of the Energy Policy Act of 2005 is a set of regulatory requirements that will redefine the technology, leadership, training, culture, compensation, job design, and organizational models currently employed in the industry.
The complexity of the human resources (HR) challenge can be seen in the diverse number of problems the Congress attempted to resolve through the new legislation (Congress passed its previous energy bill in 1992)—issues around establishment of energy markets (market monitoring and security constraints), repeal of the Public Utility Holding Company Act (PUHCA), liquefied natural-gas siting, national transmission corridors, nuclear plant construction, and recommendations pertaining to the blackout of 2003. Provisions also aim to overcome some of the provincial views held by certain states.