Abstract: With the continuous expansion of installed renewable energy capacity, the proportion of new energy in the power system keeps rising, which exerts a profound impact on the price formation mechanism, trading structure design and system dispatching operation of the spot market. The intermittent and random output characteristics of high-penetration new energy have driven frequent occurrences of negative electricity prices, distorted peak-valley price differentials and distorted price signals in the spot market. Meanwhile, it has forced the traditional dispatching mode to evolve towards the coordinated optimization of source-grid-load-storage. This paper systematically analyzes core issues such as the adaptability of spot trading structure, dispatching modeling methods and closed-loop feedback control mechanisms under the condition of high- penetration new energy integration, so as to provide theoretical references and implications for the construction of a new-type power system.