Abstract: Large-scale grid integration of renewable energy brings new challenges to electricity market design and power system operation, especially power peak-shaving. Firstly, the necessity of developing North China power peak-shaving ancillary service market with China’s power source structure dominated by coal is put forward. Then, the mechanism design of North China power peak-shaving market is analyzed from the aspects of peak-shaving service declaration, clearing mechanism and settlement mechanism. Finally, with the actual operation of North China power peak-shaving market in 2020, the operation performance evaluation index system of peak-shaving market is constructed from three aspects: market power and bidding behavior of market entities, market clearing and operation, and market social benefits, which comprehensively reflects the peak-shaving market power, market supply and demand relationship, market operation effectiveness, and operation level of market operation institutions, and provides a useful reference for the construction of China’s electricity market system.