The paper presents the application of the Analytic Hierarchy Process technique to evaluate and choose the best alternative for acquiring hard coal for energy purposes by a potential Investor operating in the mining and energy sector. Six different sources supposed to provide hard coal were analysed, each of which might ensure a secure and independent supply of the material to the newly built coal-fired power plant. When choosing the best decision alternative, the positive and negative impacts of alternatives were considered through the BOCR analysis: benefits (B), opportunities (O), costs (C) and risks (R) analysis. For this purpose, 4 independent hierarchical models were developed. Different models have the same decision alternatives assessed, but they differ in criteria used to develop the models. In each of the models, in accordance with the AHP rules, were calculated final, global weights for the alternatives being assessed. Showing the best alternative was possible by applying the multiplicative formula (B ź O)/(C ź R), which value was used to rank and choose the best alternative from all assessed ones. The best decision alternative is the alternative where the (B ź O)/(C ź R) ratio is the highest.