Abstract：In order to solve the problem that the time-of-use price is not taken into account in the calculation of

the peaking cost in the case of a large number of renewable energy sources，a method of calculating the peaking

cost of power system with time-of-use price was proposed. First，the key scenarios of power grid peak regulation

were obtained，and the technical cost characteristic boundaries of various peak regulation resources were

determined. Second，according to typical daily new energy and load characteristics，taking the minimum total

peaking cost of the power system as the objective function，taking into account the technical output of thermal

power units，charging and discharging characteristics of energy storage，capacity of pumped storage power station

and other constraints，and taking into account the time-of-sale price factor，a quantitative model of the peaking cost of the power system was established. Finally，through solving the model，the peak load balancing cost and unit output under the optimal scheme were obtained. The actual data of Ningxia Power Grid，the first provincial power grid whose output of new energy generation exceeds the entire regional power load，was taken as an example to verify the model. The results show that the model can effectively evaluate the peaking cost and unit output in the key scenarios of power grid peak regulation.

      Key words：power system；new energy；energy storage；peak shaving；typical day