Traditional neural network based electricity price forecasting algorithm fails to meet current demands by future electric power market, with low accuracy and long computation time when the electric power price changes greatly. Using the method based on Echo-State-Network (ESN), an electricity power price short-term forecasting approach is proposed. Firstly, the principle of ESN is introduced and discussed. On this basis, the electricity power price short-term forecasting approach is proposed, including parameter selection, sampling data pre-processing and ESN training and forecast process. Then, the short-term electricity price forecasting is performed by ESN and BP neural network. The simulation results show that using ESN the short-term electricity price can be forecasted more quickly and steadily. This work is supported by National High-tech R & D Program of China (No. 2012AA050804).