Abstract: The large-scale grid connection of renewable energy such as wind power poses higher requirements for the peak capacity of a power system. Therefore, the peaking ability of the system is explored from three aspects, namely, source side, load side, and storage. Firstly, on the load side, price-based demand response is used to guide users to actively participate in the load adjustment so as to reduce the peak-valley difference of the system. Then, after taking into account the peak shaving cost of thermal power units and peak shaving compensation, the initiative peak shaving constraint of thermal power generating unit is added. In this method, an economic means is used to increase the will that the thermal power unit actively participates in peak shaving so as to make room for connecting wind power. Secondly, the energy storage equipment on the power plant side is configured and integrated into the peaking auxiliary service of the system with the peaking thermal power unit, which is equivalent to increasing the peak shaving depth of the thermal power unit. Finally, by taking the optimal system economy and the minimum wind curtailment rate as the objective function, an optimal scheduling model of power system with energy storage in which the deep peak shaving initiative of thermal power and demand response are taken into consideration is constructed. Furthermore, the example analysis is given to verify that the model proposed in this paper can improve the peaking ability of the system and promote the system's consumption of wind power.