Evaluating the Performance of China's Electric Power Industry Based on the Entropy Weight Method

In recent decades, China's electric power industry has experienced an unprecedented development in terms of production scale and quality. As an important and basic industry, a large number of studies have been conducted to evaluate the overall performance of the electric power system, electric power grid system, electric power market, etc. Via performance evaluation, practitioners can effectively identify the development problems of the electric power industry and address these problems. However, the majority of previous studies focus on economic evaluation with very limited considerations given to other performance indicators such as carbon emissions reduction and social benefits. Based on literature analysis and the entropy weight method, this paper constructs an indicator system for evaluating the performance of China's electric power industry from a multi-dimension perspective. Indicators including development scale, economic benefits, social benefits, environmental protection, low-carbon development, and scientific and technological innovation were used in the performance evaluation model. Using the statistical data from 2014 to 2020, empirical analysis was conducted to measure the current performance of China's electric power industry.