An improved electricity procurement decision-making method based on information gap decision theory

In this paper, a novel decision-making method is proposed for electricity procurement by large consumers. The proposed method is derived from the concept of IGDT. The considered electricity resources include bilateral contracts, pool, and generation facilities. The proposed method helps the consumer to assess the robustness of its decisions against high pool price uncertainty. Also, it allows for the evaluation of the decisions, which makes it possible to benefit from low pool prices. This method provides a wide range of information regarding different decisions. Accordingly, the consumer can evaluate a number of different decisions and select the most appropriate one.