For　electricity　retailers,　the　decision-making　of　energy　procurement　and　sale　has　become　the　core　issue　of　operation.　In　this　paper,　an　energy　management　model　of　the　electricity　retailer　in　smart　grids　has　been　proposed.　Multiple　energy　procurement　sources　contain　pool　market　(PM),　bilateral　contracts　(BCs),　renewable　energy　sources　(photovoltaic　(PV)　system　and　wind　turbine　(WT)).　In　addition,　electric　vehicles　(EVs),　energy　storage　system　(ESS)　and　demand　response　program　(DRP),　are　considered　for　the　retailer　to　reduce　the　energy　procurement　cost　and　to　improve　the　operational　risk　resistance　ability.　In　the　proposed　model,　objective　functions　are　established　from　the　perspective　of　the　retailer　and　end-consumers　respectively.　To　validate　the　proposed　model,　a　case　study　is　conducted　and　the　results　are　analysed　to　draw　the　conclusions.　©　2019　Institution　of　Engineering　and　Technology.　All　rights　reserved.