The development of trans-regional and trans-provincial power exchange is one of the important measures to optimize energy resources nationwide. First， the basic implications and principles are put forward for the trans-regional and trans-provincial power exchange， and the general idea， the trading mechanism and patterns， 4 kinds of power price mechanism and 7 kinds of trading patterns are proposed. The trading models and algorithms for the trans-regional and trans-provincial power exchange aimed to optimize public welfare and the efficiency of optimized and fair resource allocation as well as to maximize the transaction volume are considered from the systematic and practical point of view. The model for coordination between bilateral trade and call auction mechanism for trans-regional and trans-provincial power exchange are constructed. Finally， all kinds of risks for the agent mechanism of trans-regional and trans-provincial power exchange are dealt with.