# Energy Procurement via Hybrid IGDT-Stochastic Approach

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## Abstract

By using information gap decision theory (IGDT), the positive and negative aspects of the uncertainty can be analyzed. However, only one uncertain parameter can be modeled by the IGDT. In this chapter, a novel hybrid IGDT-stochastic approach is introduced to model different uncertainties in the system and utilized benefits of the IGDT and stochastic programming methods. In the power procurement problem of the large consumer, uncertainty of load demand and power output of renewable sources are modeled by a set of scenarios, and power price is modeled using the IGDT method to evaluate the positive and negative aspects of power price in the market. It should be noted that the scenarios of load demand and solar irradiation are generated by normal distribution, and the Weibull distribution is used to generate the wind speed scenarios. The application of the hybrid IGDT-stochastic method is analyzed providing numerical studies.

## Keywords

Hybrid IGDT-stochastic approach Large consumer Power procurement Uncertainty of renewable energy sources The Weibull distribution## References

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