The new electric power system reform will open up retail electricity business, which will form the electric power market pattern of“multi buyer multi seller”by means of building diversified competitive market. Firstly, the market structure, implementation effects and implementation experience of major foreign countries after retail electricity side opening is studied, and then the contrast of market model before and after retail electricity side opening is analyzed. Secondly, the market operation mechanism after retail electricity side opening is studied. On this basis, the new model of retail electricity market based on user’s side is built, and the platform architecture of retail electricity trading which will face retail electricity subject and users is made. Finally, the market risk and supervision strategy after retail electricity side opening is analyzed.