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Operation Performance Evaluation of Power Grid Enterprise Using a Hybrid BWM-TOPSIS Method

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  • Peipei You

    (Department of Finance, Accounting and Auditing Research, State Grid Energy Research Institute, Beijing 102209, China)

  • Sen Guo

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China
    Beijing Key Laboratory of New Energy and Low-Carbon Development, North China Electric Power University, Changping, Beijing 102206, China)

  • Haoran Zhao

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China
    Beijing Key Laboratory of New Energy and Low-Carbon Development, North China Electric Power University, Changping, Beijing 102206, China)

  • Huiru Zhao

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China
    Beijing Key Laboratory of New Energy and Low-Carbon Development, North China Electric Power University, Changping, Beijing 102206, China)

Abstract

Electricity market reform is in progress in China, and the operational performance of power grid enterprises are vital for its healthy and sustainable development in the current electricity market environment. In this paper, a hybrid multi-criteria decision-making (MCDM) framework for operational performance evaluation of a power grid enterprise is proposed from the perspective of sustainability. The latest MCDM method, namely the best-worst method (BWM) was employed to determine the weights of all criteria, and the technique for order preference by similarity to an ideal solution (TOPSIS) was applied to rank the operation performance of a power grid enterprise. The evaluation index system was built based on the concept of sustainability, which includes three criteria (namely economy, society, and environment) and seven sub-criteria. Four power grid enterprises were selected to perform the empirical analysis, and the results indicate that power grid enterprise A1 has the best operation performance. The proposed hybrid BWM-TOPSIS-based framework for operation performance evaluation of a power grid enterprise is effective and practical.

Suggested Citation

  • Peipei You & Sen Guo & Haoran Zhao & Huiru Zhao, 2017. "Operation Performance Evaluation of Power Grid Enterprise Using a Hybrid BWM-TOPSIS Method," Sustainability, MDPI, vol. 9(12), pages 1-15, December.
    • Handle: RePEc:gam:jsusta:v:9:y:2017:i:12:p:2329-:d:122997
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    References listed on IDEAS

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    5. Shivani Guru & D. K. Mahalik, 2019. "A comparative study on performance measurement of Indian public sector banks using AHP-TOPSIS and AHP-grey relational analysis," OPSEARCH, Springer;Operational Research Society of India, vol. 56(4), pages 1213-1239, December.
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    13. Zheng-Xin Wang & Dan-Dan Li & Hong-Hao Zheng, 2018. "The External Performance Appraisal of China Energy Regulation: An Empirical Study Using a TOPSIS Method Based on Entropy Weight and Mahalanobis Distance," IJERPH, MDPI, vol. 15(2), pages 1-18, January.
    14. Lihui Zhang & He Xin & Zhinan Kan, 2019. "Sustainability Performance Evaluation of Hybrid Energy System Using an Improved Fuzzy Synthetic Evaluation Approach," Sustainability, MDPI, vol. 11(5), pages 1-19, February.
    15. Mališa Žižović & Dragan Pamučar & Goran Ćirović & Miodrag M. Žižović & Boža D. Miljković, 2020. "A Model for Determining Weight Coefficients by Forming a Non-Decreasing Series at Criteria Significance Levels (NDSL)," Mathematics, MDPI, vol. 8(5), pages 1-18, May.
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