MBA in Energy Management: Better Managers for Better Energy
MBA in Energy Management - An MBA in Energy Management offers a number of opportunities to those who want to make a career in the energy industry. This specialisation Programme offers career opportunities in power resource management, environmental impact assessment, power auditing, power efficient systems and technologies etc. Besides this, students also learn more about the financial aspects of Energy Management as well as how to successfully negotiate and market within the field. MBA in Energy Management programme also covers the power creation through different forms of energy. Let’s get to know more about MBA in Energy Management programme and career opportunities and its scope.
What is Energy Management?
Energy management involves the study of the production of energy through natural resources, such as the extraction of oil and gas, as well as from renewable or sustainable sources of energy, including biofuels, hydro, wind, solar power and tidal power.
We all have learned the definition of energy as part of our basic Physics lesson. From our very childhood, we have been taught to save and conserve energy. Energy, which constitutes the basic source of life, has to be preserved and conserved for our future generations. Herein comes the responsibility of energy managers who plan to utilise the energy sources effectively. Not only do they manage the existing energy sources but they also explore the untapped sources as well.
MBA in Energy Management: Opportunities Galore
After the completion of the programme, there are multiple career opportunities which students can pursue in both public as well as private sectors. The scope or career opportunities lie in power resource management, environmental impact assessment, power auditing, power efficient systems/technologies, power generation, transmission, distribution, power sector laws, power policies, power security, power pricing, power economics, power tariffs and power trading etc.
MBA in Energy Management: Top Recruiters and their Salaries
In public sector, the top recruiters include National Thermal Power Corporation, Damodar Valley Corporation, Power Finance Corporation, Power Grid Corporation of India Limited. In terms of private players, HPCL, Reliance Petrochemicals, Adani Power etc. are top recruiters.
As per the placement report of UPES Dehradun of 2016 batch, the highest package offered was Rs. 13 lakh per annum. In RGIPT Rae Bareilly, maximum offers were extended by IOCL and the median salary offered was Rs. 11.5 lakh per annum.
The Energy Sector as an Industry
The development of power or energy sector is imperative for the overall welfare of the economy or nation. According to Prof. PK Bhattacharya, Director, Rajiv Gandhi Institute of Petroleum Technology, Rae Bareilly, the energy or power sector is undergoing a transformation owing to global and domestic factors like price fluctuations and next-generation reforms. Therefore, demand and supply conditions influence the entire petroleum value chain.
According to the 2016-17 Annual Report by Ministry of Power, total installed power capacity in India is 3,29,226 MW. The report also states that the electricity generation target of conventional sources for the year 2017-18 has been fixed as 1229.400 Billion Unit (BU). i.e., growth of around 5.97 percent over an actual conventional generation of 1160.141 BU for the previous year (2016-17).
Current Scenario of Energy Industry in India
In terms of the sectors like Oil & Gas, India is the fourth-largest Liquefied Natural Gas (LNG) importer after Japan, South Korea, and China, and accounts for 5.8 percent of the total global trade, as stated by IBEF report of September 2017. According to data released by the Department of Industrial Policy and Promotion (DIPP), the petroleum and natural gas sector attracted FDI worth USD 6.86 billion between April 2000 and March 2017.
The Ministry of New and Renewable Energy (MNRE) has set a target to set up renewable energy capacities to the tune of 175 GW by the year 2022 of which about 100 GW is planned for solar, 60 for wind and remaining for hydro, bio, among others.
Prof. P K Bhattacharya,
Where specialists are valued
Careers360: How specialisation in ‘Petroleum Management’ does bring an edge over a general management programme in terms of job prospects and career growth?
Prof. Bhattacharya: Unique nature of the petroleum industry requires better understanding of the entire value chain for making effective and profitable business decisions directed toward high level of customer experience. Specialisation in Petroleum enables graduates to acquire desired professional skills to excel well in the petroleum and other industries. Graduates with petroleum specialisation could improve productivity and efficiency in their domain.
Careers360: How has the industry need and demand for MBA ‘Petroleum Management’ changed over last four to five years?
Prof. Bhattacharya: The petroleum industry has been undergoing a transformation owing to global and domestic factors like price fluctuations and next generation reforms. Therefore, demand and supply conditions are influence the entire petroleum value chain. Softening of crude oil and natural gas price has been positively impacting demand for workforce in the petroleum & natural gas downstream business. RGIPT is well poised to cater the emerging needs.
Dr. Dayanand Pandey,
Director, School of Business, UPES
For finding right trade openings
Careers360: What is the scope of Energy Management programme?
Dr. Dayanand: The ever-changing energy sector requires domain understanding, specialised courses in this sector to enable aspiring professionals to identify the business opportunities, analyse associated risks and develop risk mitigation and business expansions strategies.
Careers360: Please mention the fee structure and intake for the programme.
Dr. Dayanand: UPES fee is in the range of Rs. 10-11 lakhs and seats available are 165.
Careers360: What are the core courses for the programme?
Dr. Dayanand: UPES offers domain programs to young professionals across energy spectrum which includes oil and gas, energy trading and power. Under the offered programs, the students go through the domain tailored courses.
Careers360: What are the industry trends you have noted in the last few years? Has there been any impact on the demand based on those changes?
Dr. Dayanand: The industry is undergoing major transformation on account of high price volatility, changing technology, increasing business and economic risk and governments initiatives on promoting clean energy. Therefore, the companies are adopting new business strategies to boost revenues, increase efficiency and hiring talent with diverse skill sets. The demand for professionals with domain knowledge remains intact.