In 2008 IRGC assisted Oliver Wyman in a project designed to help improve the risk governance of energy security, using Switzerland as their case example. The aim was to improve the quality of energy security decisions, with the specific objectives of:
Analysing the current needs and expectations for energy security (reliability, affordability, autonomy and sustainability) in terms of supply and demand;
Identifying the main risk trade-offs;
Understanding the diverging stakeholder interests in managing the major risks and challenges;
Identifying the main gaps in the current governmental and private decision making processes; and
Setting the basis for an innovative risk-based decision-making process to improve the management of risks and support management decisions in the energy sector.
IRGC’s comprehensive approach to understanding, analysing and managing complex risk issues for which there are deficits in risk governance structures and processes can help decision-makers to understand the various interests, concerns and intentions behind decisions. This approach allows for better management of the trade-offs involved in the decision-making. It also gives guidance for decision-makers and for the appropriate level of consultation with stakeholders, even in situations of knowledge deficit, high complexity, or uncertainty.
Oliver Wyman published their report “Keeping the Lights on Sustainably” in August 2009. To request a copy, please visit www.oliverwyman.com.