Sayyad Nojavan

In the restructured power system, a large consumer can provide its required demand by using multiple options. Pool market, bilateral contracts, and self-generating units are some of the available options for power procurement. The main goal of large consumers from participation in the power market is procuring power at the minimum cost. The power price in the pool market has uncertainty and to cope with this problem, bilateral contracts with predetermined prices can be considered by a large consumer. To model uncertainty in the pool market, different methods such as stochastic programming, robust optimization approach, and information gap decision method can be used. Renewable energy sources can be used as self-generating units to meet some part of the required demand of the large consumer. Also, energy storage systems can be implemented to store energy during off-peak demand periods and use the stored energy during peak demand periods. Different types of storage systems such as electrical storage systems, thermal storage systems, and cooling storage systems are used to store electricity, heating, and cooling energies, respectively. In this chapter, reviews of considered methods to solve the problem are presented and the obtained results are discussed.