The power grid is updated from automation to intellectualization， technique development plays a leading role. In the meantime， the value change of power consumption and generation is the underlying reason. So， in this paper， a value based dispatch theory is introduced as one important part of smart grid origin. The feature of this theory is that the natural resources are assigned value corresponding to the social sustainable development， and the goal is to maximize implementation of resource value. So， the proposed value based dispatch can harmonize the relationship among power generation， consumption， natural resources and environment， which embodies the basic aim of smart grid development. On the basis， the concept of value dispatch， relationship between value dispatch and smart grid construction， and current research situation and problems faced about value dispatch are contemplated further.