This paper summarizes the market coupling process in the European electricity markets, and introduces the price coupling of regions project which is the platform to calculate the electricity prices and cross-border power exchange among the European countries. The Pan-European Hybrid Electricity Market integration algorithm is studied. An explanation of different pricing models is given, these models are the local marginal price model, the available transmission capacity model and the flow-based market coupling model. Finally the characteristics of market coupling model are summarized, and the suggestions for the southern electricity spot market are proposed.