Nowadays, the deterioration of ecological environment and the ever rising gas price make green transportation our relentless pursuit. Energy-saving, low-emission even zero-emission electric vehicles (EVs) have been considered as one solution to the problem. With the rapid development of plug-in electric vehicle (PHEV) and forceful support and incentives from the government, PHEV and its supporting facilities are being gradually popularized. When randomly being connected to the power grid in large scale, PHEVs will bring new challenges to power grid in operation and management. This paper presents an overall review on historical research on power system integrated with electric vehicles and especially focuses on economic dispatch of PHEV in the electricity market. The paper also discusses the joint scheduling problem considering other renewable energy resources and risk management of PHEV-penetrated power systems.