<p>Energy management in a microgrid is described as a control system with the required functionality to guarantee the generation and distribution systems supply energy at a lesser operation cost. But the output power was not at the required level. In addition, profit at the producer end was not improved. To address these problems, an Improved Meta-Heuristic Deming Ranked Firefly Optimization-based Bidding Strategy (IMHDRFOBS) model is introduced to increase the profit of power producers with lesser computational cost. The objective of this proposed approach is to regulate the energy management analysis during generation, demand and dispatch schedule. Consequently, the profit of power producers is boosted. The results are validated by considering a virtual power plant of capacity 250&#xa0;kW comprising five PV systems, five MTs, and sixty PEVs was set up. The hourly adjustment range for the power load is set between 0.9 and 1.1 times the real data. The IMHDRFOBS model improves the energy management accuracy by 11% and 17%, increases the solar energy generation performance by 26% and 39% and reduces the operation cost by 29% and 37% when compared to conventional Energy Management System and Affinely adjustable robust bidding strategy respectively.The simulation results show the proposed model achieves higher energy management accuracy and generation of solar energy with lesser operation cost.</p>