Evaluating the electric power utilities´ risk based on an improved FCEM under the smart grid environment

China is going to construct a strong smart grid in the near future. Combing with the progress in electric market reform, the utilities´ will confront more risks under the smart grid environment. The risks were identified in this paper, and an evaluation indexes system was constructed. The fuzzy comprehensive evaluation method (FCEM) was improved by firstly clarifying the membership functions of the evaluating indexes and then calculating the evaluation result, rather than selecting the lower one between their weights and memberships. The case study shows that the results of the improved FCEM can better deal with information reflected by both the indexes´ weights and membership, and is more applicable to evaluate the indexes system constructed above, while the FCEM may present false result because it attach too much importance to the indexes´ weights.