IDEAS home Printed from https://ideas.repec.org/a/eee/ijocip/v36y2022ics1874548221000883.html
   My bibliography  Save this article

Risk assessment and mitigation for electric power sectors: A developing country's perspective

Author

Listed:
  • Rehman, Obaid ur
  • Ali, Yousaf
  • Sabir, Muhammad

Abstract

The electric power sector is the driving force behind a country's economy and disruptions in its services have dire consequences. The purpose of this study is to identify the risk mitigation measures that should be incorporated by the electric power sector of Pakistan. These risk mitigation strategies were identified while considering the risks that are Most Probable, Severe, Costly, Difficult to Detect, and Control. This study employed Fuzzy Multi-Criteria Decision-Making (MCDM) techniques for the assessment of risks. The criteria for risk evaluation were gauged through Fuzzy Full Consistency Method (FUCOM) and Fuzzy VIKOR approach was used for ranking these risks. Moreover, the risk mitigation strategies were evaluated using the Fuzzy Quality Function Deployment (QFD) method, considering the previously prioritized risks. The analysis ranked Corruption, Circular Debts, Outdated Infrastructure, Energy Losses, and Lack of Research and Development as the most critical risks. For risk mitigation measures, Incorporation of the Internet of Things (IoT), Building an Investor-Friendly Environment, Improved Coordination between Organisations, and Maximizing the Energy Efficiency Potential gained preference, among other measures. The study proposed a novel framework for risk assessment and evaluation of risk mitigation strategies. Moreover, it fills a research gap in its application by focusing on the electric power sector of Pakistan, a developing country.

Suggested Citation

  • Rehman, Obaid ur & Ali, Yousaf & Sabir, Muhammad, 2022. "Risk assessment and mitigation for electric power sectors: A developing country's perspective," International Journal of Critical Infrastructure Protection, Elsevier, vol. 36(C).
    • Handle: RePEc:eee:ijocip:v:36:y:2022:i:c:s1874548221000883
    DOI: 10.1016/j.ijcip.2021.100507
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1874548221000883
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ijcip.2021.100507?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Osman Taylan & Rami Alamoudi & Mohammad Kabli & Alawi AlJifri & Fares Ramzi & Enrique Herrera-Viedma, 2020. "Assessment of Energy Systems Using Extended Fuzzy AHP, Fuzzy VIKOR, and TOPSIS Approaches to Manage Non-Cooperative Opinions," Sustainability, MDPI, vol. 12(7), pages 1-27, March.
    2. Oleksandr Sabishchenko & Rafał Rębilas & Norbert Sczygiol & Mariusz Urbański, 2020. "Ukraine Energy Sector Management Using Hybrid Renewable Energy Systems," Energies, MDPI, vol. 13(7), pages 1-20, April.
    3. Akber, Muhammad Zeshan & Thaheem, Muhammad Jamaluddin & Arshad, Husnain, 2017. "Life cycle sustainability assessment of electricity generation in Pakistan: Policy regime for a sustainable energy mix," Energy Policy, Elsevier, vol. 111(C), pages 111-126.
    4. Lin, Boqiang & Raza, Muhammad Yousaf, 2020. "Coal and economic development in Pakistan: A necessity of energy source," Energy, Elsevier, vol. 207(C).
    5. Kamran, Muhammad & Fazal, Muhammad Rayyan & Mudassar, Muhammad, 2020. "Towards empowerment of the renewable energy sector in Pakistan for sustainable energy evolution: SWOT analysis," Renewable Energy, Elsevier, vol. 146(C), pages 543-558.
    6. Bottani, Eleonora & Rizzi, Antonio, 2006. "Strategic management of logistics service: A fuzzy QFD approach," International Journal of Production Economics, Elsevier, vol. 103(2), pages 585-599, October.
    7. Izzet Alp Gul & Gülgün Kayakutlu & M. Özgür Kayalica, 2020. "Risk Analysis in Renewable Energy System (RES) Investment for a Developing Country: A Case Study in Pakistan," Arthaniti: Journal of Economic Theory and Practice, , vol. 19(2), pages 204-223, December.
    8. Wu, Yunna & Wang, Jing & Ji, Shaoyu & Song, Zixin, 2020. "Renewable energy investment risk assessment for nations along China’s Belt & Road Initiative: An ANP-cloud model method," Energy, Elsevier, vol. 190(C).
    9. Khan, Hassan Abbas & Ahmad, Husnain Fateh & Nasir, Mashood & Nadeem, Muhammad Fatiq & Zaffar, Nauman Ahmed, 2018. "Decentralised electric power delivery for rural electrification in Pakistan," Energy Policy, Elsevier, vol. 120(C), pages 312-323.
    10. Yuan, Jiahai & Li, Xinying & Xu, Chuanbo & Zhao, Changhong & Liu, Yuanxin, 2019. "Investment risk assessment of coal-fired power plants in countries along the Belt and Road initiative based on ANP-Entropy-TODIM method," Energy, Elsevier, vol. 176(C), pages 623-640.
    11. Ali, Fahad & Ahmar, Muhammad & Jiang, Yuexiang & AlAhmad, Mohammad, 2021. "A techno-economic assessment of hybrid energy systems in rural Pakistan," Energy, Elsevier, vol. 215(PA).
    12. Xu, Yelin & Chan, Albert P.C. & Xia, Bo & Qian, Queena K. & Liu, Yong & Peng, Yi, 2015. "Critical risk factors affecting the implementation of PPP waste-to-energy projects in China," Applied Energy, Elsevier, vol. 158(C), pages 403-411.
    13. Lam, Jasmine Siu Lee & Bai, Xiwen, 2016. "A quality function deployment approach to improve maritime supply chain resilience," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 92(C), pages 16-27.
    14. Kessides, Ioannis N., 2013. "Chaos in power: Pakistan's electricity crisis," Energy Policy, Elsevier, vol. 55(C), pages 271-285.
    15. Xu, Chuanbo & Wu, Yunna & Dai, Shuyu, 2020. "What are the critical barriers to the development of hydrogen refueling stations in China? A modified fuzzy DEMATEL approach," Energy Policy, Elsevier, vol. 142(C).
    16. Uzair, Muhammad & Sohail, Syed Sarosh & Shaikh, Nasir Uddin & Shan, Ali, 2020. "Agricultural residue as an alternate energy source: A case study of Punjab province, Pakistan," Renewable Energy, Elsevier, vol. 162(C), pages 2066-2074.
    17. Qazi, Usama & Jahanzaib, Mirza & Ahmad, Wasim & Hussain, Salman, 2017. "An institutional framework for the development of sustainable and competitive power market in Pakistan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 70(C), pages 83-95.
    18. Monika Wieczorek-Kosmala, 2020. "Weather Risk Management in Energy Sector: The Polish Case," Energies, MDPI, vol. 13(4), pages 1-21, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kaytez, Fazıl, 2022. "Evaluation of priority strategies for the expansion of installed wind power capacity in Turkey using a fuzzy analytic network process analysis," Renewable Energy, Elsevier, vol. 196(C), pages 1281-1293.
    2. Wu, Yunna & Liao, Mingjuan & Hu, Mengyao & Lin, Jiawei & Zhou, Jianli & Zhang, Buyuan & Xu, Chuanbo, 2020. "A decision framework of low-speed wind farm projects in hilly areas based on DEMATEL-entropy-TODIM method from the sustainability perspective: A case in China," Energy, Elsevier, vol. 213(C).
    3. Wajahat Ullah Khan Tareen & Zuha Anjum & Nabila Yasin & Leenah Siddiqui & Ifzana Farhat & Suheel Abdullah Malik & Saad Mekhilef & Mehdi Seyedmahmoudian & Ben Horan & Mohamed Darwish & Muhammad Aamir &, 2018. "The Prospective Non-Conventional Alternate and Renewable Energy Sources in Pakistan—A Focus on Biomass Energy for Power Generation, Transportation, and Industrial Fuel," Energies, MDPI, vol. 11(9), pages 1-49, September.
    4. Han Chu & Jiaming He & Yisheng Yang & Yong Huang & Shiman Wang & Yunna Wu, 2022. "Economic-Environmental-Social Benefits Assessment of Wind Power Hydrogen Production Project Based on Cloud-MULTIMOORA Approach," Sustainability, MDPI, vol. 14(15), pages 1-17, July.
    5. Ilbahar, Esra & Kahraman, Cengiz & Cebi, Selcuk, 2022. "Risk assessment of renewable energy investments: A modified failure mode and effect analysis based on prospect theory and intuitionistic fuzzy AHP," Energy, Elsevier, vol. 239(PA).
    6. Muhammad U. Khan & Muhammad Ahmad & Muhammad Sultan & Ihsanullah Sohoo & Prakash C. Ghimire & Azlan Zahid & Abid Sarwar & Muhammad Farooq & Uzair Sajjad & Peyman Abdeshahian & Maryam Yousaf, 2021. "Biogas Production Potential from Livestock Manure in Pakistan," Sustainability, MDPI, vol. 13(12), pages 1-17, June.
    7. Abdullah, Fahad Bin & Iqbal, Rizwan & Hyder, Syed Irfan & Jawaid, Mohammad, 2020. "Energy security indicators for Pakistan: An integrated approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 133(C).
    8. Jamil, Muhammad Hamza & Ullah, Kafait & Saleem, Noor & Abbas, Faisal & Khalid, Hassan Abdullah, 2022. "Did the restructuring of the electricity generation sector increase social welfare in Pakistan?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 157(C).
    9. Ali, Fahad & Ahmar, Muhammad & Jiang, Yuexiang & AlAhmad, Mohammad, 2021. "A techno-economic assessment of hybrid energy systems in rural Pakistan," Energy, Elsevier, vol. 215(PA).
    10. Lam, Jasmine Siu Lee & Zhang, Xiunian, 2019. "Innovative solutions for enhancing customer value in liner shipping," Transport Policy, Elsevier, vol. 82(C), pages 88-95.
    11. Yujing Xiang & Qinli Zhang & Daolin Wang & Shihai Wu, 2022. "Mining Investment Risk Assessment for Nations along the Belt and Road Initiative," Land, MDPI, vol. 11(8), pages 1-20, August.
    12. Ashfaq, Asad & Ianakiev, Anton, 2018. "Features of fully integrated renewable energy atlas for Pakistan; wind, solar and cooling," Renewable and Sustainable Energy Reviews, Elsevier, vol. 97(C), pages 14-27.
    13. Yana Duan & Yang Sun & Yu Zhang & Xiaoqi Fan & Qinghuan Dong & Sen Guo, 2021. "Risk Evaluation of Electric Power Grid Investment in China Employing a Hybrid Novel MCDM Method," Mathematics, MDPI, vol. 9(5), pages 1-22, February.
    14. Athar Mahmood & Xiukang Wang & Ahmad Naeem Shahzad & Sajid Fiaz & Habib Ali & Maria Naqve & Muhammad Mansoor Javaid & Sahar Mumtaz & Mehwish Naseer & Renji Dong, 2021. "Perspectives on Bioenergy Feedstock Development in Pakistan: Challenges and Opportunities," Sustainability, MDPI, vol. 13(15), pages 1-24, July.
    15. Bega, François & Lin, Boqiang, 2023. "China's belt & road initiative energy cooperation: International assessment of the power projects," Energy, Elsevier, vol. 270(C).
    16. Ullah, Zia & Elkadeem, M.R. & Kotb, Kotb M. & Taha, Ibrahim B.M. & Wang, Shaorong, 2021. "Multi-criteria decision-making model for optimal planning of on/off grid hybrid solar, wind, hydro, biomass clean electricity supply," Renewable Energy, Elsevier, vol. 179(C), pages 885-910.
    17. Zhou, Na & Wu, Qiaosheng & Hu, Xiangping & Xu, Deyi & Wang, Xiaolin, 2020. "Evaluation of Chinese natural gas investment along the Belt and Road Initiative using super slacks-based measurement of efficiency method," Resources Policy, Elsevier, vol. 67(C).
    18. Huang, Jianbai & Liu, Jia & Zhang, Hongwei & Guo, Yaoqi, 2020. "Sustainable risk analysis of China's overseas investment in iron ore," Resources Policy, Elsevier, vol. 68(C).
    19. Sikandar Ali Abbasi & Khanji Harijan & Zubair Ahmed Memon & Faheemullah Shaikh & Nayyar Hussain Mirjat, 2021. "Is Coal Power Generation a Sustainable Solution for Energy Needs of Pakistan: A Delphi-SWOT Paradigm?," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 308-317.
    20. Busola D. Akintayo & Oluwafemi E. Ige & Olubayo M. Babatunde & Oludolapo A. Olanrewaju, 2023. "Evaluation and Prioritization of Power-Generating Systems Using a Life Cycle Assessment and a Multicriteria Decision-Making Approach," Energies, MDPI, vol. 16(18), pages 1-18, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ijocip:v:36:y:2022:i:c:s1874548221000883. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/international-journal-of-critical-infrastructure-protection .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.