Abstract: From February 15 to 19,2021,a large-scale blackout occurred in Texas in the United States,which caused widespread concern internationally.The process of power outage was combed combined with the situation of Texas power system and power market.It was analyzed and pointed out that the main causes of the event were the surge of power load in extreme cold weather,the sudden drop of output caused by the weak ability of energy supply infrastructure to resist extreme cold weather,the imbalance between supply and demand caused by the weak ability of external power support,and the failure of market mechanism to effectively stimulate infrastructure investment and transformation. Combined with the reality of Shandong power resource endowment and power market development,some suggestions for the construction of Shandong power market were put forward,such as establishing a scientific capacity adequacy guarantee mechanism,perfecting the inter provincial and intra provincial market connection mechanism,improving the medium and long-term transaction flexibility,perfecting the retail market transaction mechanism,standardizing information disclosure,establishing a market emergency mechanism and so on.