Operation performance evaluation of power grid enterprise using a hybrid BWM-TOPSIS met

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.