Automatic generation control (AGC) plays a vital role in creating an equilibrium between generated output power and load demand, in order to maintain frequency at desired value. This study focuses on performance analysis of simple-multi attribute rating technique (SMART) assisted proportional-integral-derivative (PID) controller design for AGC of two interconnected power systems. PID controller is designed by minimizing frequency variations, area control errors for area-1 and area-2, and tie-line power deviation. An objective function is framed considering error minimization of aforementioned factors as sub-objectives. The construction of objective function involves using the integral of time-multiplied absolute error (ITAE) for frequency deviations for area-1 and area-2, ITAE for deviation in tie-line power, and ITAEs for area control errors for area-1 and area-2 as sub-objective functions. By assigning appropriate weights to these sub-objective functions, an overall objective function is formed. This study determines these weights in an organized manner using SMART method, rather than randomly/equally assigning them. Overall objective function is minimized using Jaya algorithm. To demonstrate effectiveness of the proposed Jaya-based PID controller, its performance is analysed and compared with controllers tuned using other optimization algorithms, including sine cosine, Luus-Jaakola, teacher-learner based optimization, Nelder-Mead simplex, and elephant herding optimization. Considering six different case studies that consider a range of load variations, responses for fluctuations in frequency and tie-line exchange are plotted. Statistical and non-parametric analysis performed further provide additional insights into the performance of Jaya-based PID controller.