Education and training serve as critical elements of advancement of a nation's economy in transition. The restructuring of the power engineering industry in Russia has called for a fast implementation of new management system in electric power engineering and radical training of professional managers at different levels in organizations. Management training in electric power engineering in Russia has been implemented by (1) preparing highly professional managers in higher education institutions and technical universities and by (2) improving the management skills of practicing managers in technical universities and educational centers of different power energy companies. This article reports the experience of introducing a new discipline "Management in Electrical Engineering" at the Moscow Power Engineering Institute (Technical University) and reflects on training managers in electric power engineering at higher education and corporate educational centers.