This paper proposes the frequency linked availability based tariff (ABT) mechanism along with ANFIS controller for extenuating the issues in load frequency control (LFC) for a four area deregulated/restructured power system. To scrutinize the effective performance of the proposed approach, the dynamic performance of the system is analyzed with single and bilateral contract considering the value of the marginal cost higher and lesser than the Unscheduled interchange (UI). For this analysis, UI rate chart from the Central Electricity Regulation Commission (CERC) is used. The simulation results confirm that the ANFIS controller performance is comparatively better than proportional controller in two different contract cases. © 2021 Institute of Physics Publishing. All rights reserved.