Although the framework of operational competence had been in place for decades, its use as a gauge of organizational strength in the utility sector began to gain traction in the 1970s. Over the decades, the focus and benchmarks of operational competence have changed dramatically, but it’s still missing one core element: utility security. So, what is Operational Competence? You won’t find an official definition, but you’ll see the term used in financial documents, regulatory filings, board reports, operational bulletins, statutory guidance documents and other materials where an understand…