A scientific and feasible power regulatory system can effectively prevent potential risks and promote its harmonious development of the power market. With the advancement of China's power spot market construction, the regulatory mechanism of the power market has again attracted the attention of the related designers. Since the power spot markets in North America, Australia, Europe, and other countries and regions have been maturely developed, they have accumulated rich practical experiences in handling with energy structure transformation, opening up power market competition, and improving the power regulatory system. Firstly, it introduces the electricity regulatory systems of various countries and elaborates the history of their electricity regulatory reforms; secondly, it analyzes the functions of electricity regulatory agencies in various countries in depth; then, it well compares and analyzes the regulatory agency evaluation mechanisms of the electricity markets in Australia, Europe and the United States; finally, based on the current situation of China's power market construction, we provide suggestions on the energy and power law and regulation system in the power market, improving the functions of regulatory agencies, strengthening regulatory informationization, and improving evaluation mechanisms.

power market regulation; power market reform in China; review and comparison; policy suggestions.