Evaluating the Effectiveness of New and Old Kinetic Energy Conversion from an Electric Power Economics Perspective: Evidence on the Shandong Province of China

Wanlei Xue, Bingkang Li, Yongqi Yang, Huiru Zhao and Nan Xu
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Wanlei Xue: Economic & Research Institute, State Grid Shandong Electric Power Company, Jinan 250002, China
Bingkang Li: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Yongqi Yang: Economic & Research Institute, State Grid Shandong Electric Power Company, Jinan 250002, China
Huiru Zhao: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Nan Xu: Economic & Research Institute, State Grid Shandong Electric Power Company, Jinan 250002, China

Energies, 2019, vol. 12, issue 6, 1-17

Abstract: This paper proposes a hybrid model for evaluating the effectiveness of new and old kinetic energy conversion (NOKEC), China’s major strategic move aiming to transform the mode of economic growth and improvie the quality of economic development. Considering the goals of NOKEC and the supporting roles of power industry to NOKEC, this paper constructs an index system for NOKEC effectiveness evaluation from an electric power economics perspective, involving three dimensions and 17 secondary indicators. Furthermore, a hybrid evaluation model based on DEMATEL-ANP and DQ-GRA techniques is developed to accomplish the evaluation of Shandong’s NOKEC effectiveness. The results show that Shandong’s NOKEC effectiveness increased from 2015–2017, indicating that Shandong’s NOKEC policies have achieved remarkable results. According to the evaluation results, this paper puts forward the indicators that should be paid close attention to and the following work priorities in Shandong’s future NOKEC process, which has certain practical value for the promotion of Shandong’s NOKEC. In addition, the evaluation model proposed in this paper considers the interrelationships between indicators and overcomes the shortcomings of traditional GRA, showing good applicability to similar effectiveness evaluation issues. Finally, the limitations and universality of the model are discussed and the improvement direction is put forward.

Keywords: NOKEC; effectiveness evaluation; electric power economics; DEMATEL-ANP; DQ-GRA (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: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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