Abstract: Under the background of the Energy Internet,the complementarity between power system and natural gas system provides an alternative solution for mitigating the adverse effects of random fluctuations in wind power and other renewable energy sources. First,a coupled electricity and natural gas markets framework is proposed to counterbalance WPP’s bid deviations. In the framework,the WPP is considered to own P2G facilities and gas-fired units to implement energy conversion. And the excess electricity is converted to gas through power to gas（P2G）technologies by WPP when its actual output is greater than the bid output,while the gas-fired units are applied when its actual output is less than the bid output. Based on the market framework,a joint equilibrium model of the day-ahead electricity market and the gas market is proposed. In this model,the supply function bid form is applied by WPP,conventional power producers and gas producers to participate in multi-energy market competition. Finally,numerical studies are applied to verify the efficacy of the proposed model.