Among various spectral analysis tools arisen in the last years, some were more prominent, such as Fourier transform, windowed Fourier transform and wavelet transform (WT). Nevertheless, all of them present implementation restrictions for an ideal extraction for low as well as high frequencies, of variant signals in time, as, for example, signals containing time-varying harmonics. In this sense, this study presents a review of concepts on the S-transform (ST), also known as Stockwell transform, applied in the analysis of some signals in the context of power quality (PQ). ST gathers, in a single function, positive qualities of both short time Fourier transform (STFT) and WT. This study presents a mathematical basis and some considerations regarding ST, referring to published papers, including a comparison between ST and STFT, as well as WT. It is worth emphasising that a final solution for the extraction of the low-and high-frequency information from time-varying signals is not yet available. ST is a satisfactory approach, but it still needs more detailed studies. This study presents a necessary set of steps for a better understanding of ST, reproduction of examples found in correspondent literature, as well as the ones regarding PQ.