In recent years, the energy sector has changed in two significant aspects. The first is attributed to the growing share of diverse energy sources, mainly renewable sources (e.g., wind and solar). The second is attributed to the interconnectivity of large power grids across countries and continents. As a result, an advanced energy market has emerged. Nowadays, energy has become a tradable commodity with diverse spot prices and future contracts. Water Distribution Systems (WDSs) are one of the largest energy consumers. WDSs are also characterized by their ability to use water storage facilities for shifting energy use patterns through strategic pumping. Thus, water utilities are looking for a delicate balance between the strategic purchase of long-term (e.g., monthly, yearly) energy contracts and real-time scheduling of spot market energy purchases (e.g., the inter-day and day-ahead). This study presents a Decision Support System (DSS) for strategic power contract procurement optimization and real-time pump scheduling optimization. The DSS is designed to balance short- and long-term contracts while accounting for energy prices and water demands uncertainties.