The aim of this paper elucidates the automatic generation control (AGC) issues in a large-scale interconnected power system incorporating high voltage direct current (HVDC) link under the deregulated environment. To deal with all possible sorts of power transactions in the energy market, a secondary robust, and intelligent controller for AGC is necessary. So, a classical proportionalintegral-derivative (PID) controller assisted by fuzzy logic is configured as a novel self-adaptive Fuzzy-PID (SA-FPID) controller to ameliorate the dynamic performance of the restructured system over conventional PID and Fuzzy-PID controllers. In self-adaptive Fuzzy-PID controller unlike the Fuzzy-PID controller, the output scaling factors are tuned dynamically while the controller is functioning. The controllers used in this paper are designed by enumerating different gains and scaling factors, applying a budding natureinspired algorithm known as Wild Goat Algorithm (WGA). The superior dynamic performance of frequency and tie-line power deviation under SA-FPID in comparison to its' counterparts is investigated by dispatching the scheduled and unscheduled power under different contracts such as poolco based transaction, bilateral transaction and contract violation-based transaction through the tie-line. In addition, the potential of the proposed SA-FPID controller is examined by taking a practical model. Further, the dynamic response under parameter variation and random load perturbation is evaluated which confers the robustness of the proposed controller.