Economic Evaluation Method of Modern Power Transmission System Based on Improved Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) and Best-Worst Method-Anti-Entropy Weight

Wenhui Zeng, Jiayuan Fan, Zhichao Ren, Xiaoyu Liu, Shuang Lv, Yuqian Cao (), Xiao Xu and Junyong Liu
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Wenhui Zeng: State Grid Sichuan Economic Research Institute, Chengdu 610095, China
Jiayuan Fan: State Grid Sichuan Information & Communication Company, Chengdu 610299, China
Zhichao Ren: State Grid Sichuan Economic Research Institute, Chengdu 610095, China
Xiaoyu Liu: State Grid Sichuan Economic Research Institute, Chengdu 610095, China
Shuang Lv: State Grid Sichuan Electric Power Company Chengdu Power Supply, Chengdu 610041, China
Yuqian Cao: School of Electrical Engineering, Sichuan University, Chengdu 610017, China
Xiao Xu: School of Electrical Engineering, Sichuan University, Chengdu 610017, China
Junyong Liu: School of Electrical Engineering, Sichuan University, Chengdu 610017, China

Energies, 2023, vol. 16, issue 21, 1-21

Abstract: As the demand for power supply increases, the investment in the power transmission system constantly increases. An accurate economic evaluation of the power transmission system is essential for future investment decisions and management. Applying a single method in economic evaluation leads to excessive subjective consciousness and unreasonable weight allocation. The Euclidean distance in the traditional TOPSIS method only partially works on the condition that the criteria are linearly correlated. To solve these problems, an economic evaluation method based on improved TOPSIS and BWM-anti-entropy weight is proposed. For the assignment of weights, the method retains the advantages of subjective and objective weighting methods based on the Nash equilibrium, breaks through the limitation of utilizing a single method, which contributes to one-sided results, and enhances the scientific rigor and rationality of the comprehensive weighting process. Furthermore, based on comprehensive weights, the method improves the TOPSIS by introducing the Mahalanobis distance and Pearson correlation coefficients, which can eliminate the influence of linear correlation. Finally, ten 500 kV transmission and transformation projects are analyzed and ranked to verify the method’s feasibility. Empirical analysis shows that the method can effectively evaluate the economic benefits of the power transmission system.

Keywords: power transmission system; economic evaluation; best-worst method (BWM); anti-entropy weight method; Nash equilibrium; improved TOPSIS (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
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