Consequence-based framework for electric power providers using Bayesian belief network

Novel consequence-based framework for electric power providers is proposed. This framework includes six performance objectives, such as reputation, health and safety, environmental, financial, reliability, and system conditions. The six performance objectives are quantified with the consideration of 41 key performance indicators (KPIs). The framework is illustrated with a case study of 10 Canadian power utilities. Furthermore, a sensitivity analysis is undertaken to identify importance of the KPIs on the decision framework. (C) 2014 Elsevier Ltd. All rights reserved.