In Conversation with Guy Holburn: Leading to Transform the Energy Sector
In this episode:
The energy sector is entering one of the most transformative periods in its history. Driven by electrification, new technologies, and evolving stakeholder relationships, utilities and policymakers are navigating a landscape defined by both immense opportunity and complex risk.
Joining us is Dr. Guy Holburn, Professor of Business, Economics, and Public Policy at Ivey Business School and Founder of the Ivey Energy Policy and Management Centre. Drawing on decades of research and advisory experience, Holburn unpacks the forces reshaping Canada’s electricity industry—from decarbonization goals and megaproject governance to Indigenous partnerships and public ownership models.
In this conversation, he explores how policy, technology, and stakeholder collaboration are redefining what smart growth looks like for Canada’s energy future—and the leadership mindset required to get it right.
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About "In Conversation With..."
In this live virtual event series, we sit down with an Ivey faculty member to discuss their research and expertise. Produced by Ivey Executive Education, these sessions allow us to take a deep dive into a specific topic with each professor, sharing insights on challenges and issues relevant to the future of business.
What is Learning in Action?
Hosted by the Ivey Executive Education at Ivey Business School, Learning in Action explores current topics in leadership and organizations. In this podcasting series, we invite our world-class faculty and a variety of industry experts to deliver insights from the latest research in leadership, examine areas of disruption and growth, and discuss how leaders can shape their organizations for success.
Q&A
During the live session on October 16, 2025, the audience members posed some questions to Guy that we didn’t have time to answer in the conversation. Read below for some more audience Q&A.
Q: OEM backlogs are limiting T&D utilities’ ability to meet demand. Are you seeing utilities cooperate to mitigate this — such as pooling purchases to order equipment in advance while managing risk?
A: I agree that this is an increasing concern for utilities, especially for large capital equipment. Yes, I am seeing discussion of this type of cooperative approach to purchasing and supply and am aware of consortiums that are working to develop common standards and specifications. It seems like a sensible approach that can also potentially deliver cost savings.
Q: What are the potential implications of electrification for other energy sectors, such as oil and natural gas?
A: Great question that is clearly very important for the oil and gas sector. While the shift towards electrification might imply lower demand for oil and gas in some sectors, notably transportation, this is a gradual, long-term trend, and in the meantime demand for Canadian oil and gas exports is likely to remain robust. Global oil demand is forecast to increase, mainly due to economic growth in Asia and developing countries. That said, now is a good time for oil and gas companies to develop diversification strategies.
Q: Government ownership means the public are both owners and customers. What conflicts might arise (e.g., shareholder value vs. affordability or climate goals), and how can they be managed?
A: Great question, and a complex one. This touches on issues of how best to achieve competing business and social objectives, what is the appropriate role of government-owned utilities/enterprises in achieving them, and how should these decisions be made? Governments may want to pursue dual business and social objectives through Crown Corps, but the key thing is to have objectives clearly articulated so that boards and management understand how to balance trade-offs.
Q: Given the need for stable baseload power, do you see potential for large-scale hydropower renewal in Canada? Many post-WWII dams are reaching end-of-life — could modern reinvestment serve as both infrastructure renewal and economic stimulus?
A: Hydropower has a lot of attractive attributes, Canadian geology is favourable for large-scale development in some locations, and we have deep Canadian expertise, so there are many reasons to keep this in the future generation portfolio mix. Newfoundland and Labrador and Quebec see potential in developing Gull Island on the Churchill River, which would be a major new hydro resource. Refurbishment of existing hydro assets is also planned on the Churchill River. The economic stimulus impact is important for local communities in the short run, and there are also long-term economic growth benefits when energy-intensive industries invest in new production capacity (e.g., mining, aluminum).
Q: With SMRs and nuclear reactors, waste remains a major challenge with no established storage solution in Canada. Why does this technology continue to receive approval despite this issue?
A: I agree that this is a tough issue. The NWMO seems to view the current storage approach as manageable while anticipating that a long-term technically feasible solution can be found.
Episode Transcript:
Coming Soon.
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