Sayyad Nojavan

In a restructured power market, large consumers are one of the most important players due to their high energy demand, which affects the economic and environmental performance of the power system. Additionally, obtaining energy at minimum cost will impart a considerable benefit for the large consumer. To this purpose, different options are available, namely, participating in the power market, selfgenerating units, and bilateral contracts. The required load demand of the consumer should be supplied while utilizing the abovementioned sources to incur a minimal power procurement cost. In the power procumbent process, different uncertainties affect the total cost of power procurement. It is well known that the power price in the pool market is uncertain, and is considered a main uncertainty source. The bilateral contracts, which are signed between the supplier and consumer before the physical delivery with predetermined prices and periods, are the most important tool used to cope with power price uncertainty. Self-generating units can be used to reduce power procumbent sources. These days, different renewable energy sources are considered as an environment-friendly source to generate clean energy. Therefore, wind turbines and photovoltaic systems beside micro-turbines can be classified as self-generating units. Through implementing renewable energy sources, which are increasing daily, environmental goals can be satisfied; however, such energy sources create different uncertainties relating to the power procurement. For example, the power output of the photovoltaic system depends on the solar irradiation, and wind speed affects the power output of the wind turbine. In order to deal with the aforementioned uncertainties, different methods are introduced to model the impact of the uncertainty. The most important methods are, specifically, stochastic programming, robust optimization, information-gap decision theory (IGDT), and novel hybrid methods; each has its own advantag