1. State Key Laboratory of Alternate Electrical Power System with Renewable Energy Sources(North China Electric Power University), Beijing 102206, China; 2. China Electric Power Research Institute(Nanjing), Nanjing 210003, China

Currently, the electric energy imbalance between the contract energy and the billed energy in the Chinese electricity pool mode has become a challenge to the settlement procedure. With the launch of deepening reform in the Chinese electric sector, the following issues are cropping up increasing large consumer direct electricity purchase, the ever-rising quantity of electricity retail companies and renewable generation cross-regional trade, and gradually opening of spot market. All these make more and more market participants appear, and transaction types more abundant, trade period more flexible, and market structure more complicated, proposing higher requirements on power market transaction and settlement. But this is exactly what is lacking in the present Chinese power market. So, this paper takes three typical foreign power markets, i. e. British power market, Texas power market and Nordic power market to analyze and compare their transaction and settlement mechanisms. The imbalance energy settlement methods and the characteristics of three markets are summarized. Some suggestions are made for Chinese electricity market settlement mechanism to draw on at different stages.