Abstract: The spot market of power is an important part of the modern power system, which plays a key role in restoring the properties of power commodity, finding its prices, and optimizing its resource allocation. Hydropower is often affected by the randomness of river runoff, which results in prominent contradiction between the high water and low water and great output uncertainty. Operation of a reservoir is usually limited by its comprehensive utilization, the power stations of a cascade system are mutually connected closely, and information sharing between upstream and downstream multi-agent power stations is difficult. In addition, external transmission channels are lacking and section blocking is severe. Thus, hydropower participation in the electricity spot market is facing many challenges. This paper summarizes the research status quo in China and abroad, focusing on the mathematical models and algorithms previously developed and the pros and cans of the existing methods. We also discuss the trends of hydropower spot market development in the future, including the key scientific and technological problems involved in "quantity price" declared in the spot market: prediction of market clearing prices, optimization of power generation capacity, bidding strategy, and the decision support system of hydropower spot quotation. This would help enrich the theory and method of power spot market and improve the production and operation of hydropower enterprises.

Key words: electricity spot market, hydropower energy, electricity price, artificial intelligence, spot quotation decision support system