How to effectively use the multi-energy demand elasticity of users to bid in the multi-energy market and formulate multi-energy retail packages is an urgent problem which needs to be solved by integrated energy service providers (IESPs) to attract more users and reduce operating costs. This paper presents a unified clearing of electricity and natural gas based on a bi-level bidding and multi-energy retail price formulation method for IESPs considering multi-energy demand elasticity. First

we propose an operating structure of IESPs in the wholesale and retail energy markets. The multi-energy demand elasticity model of retail-side users and a retail price model for electricity

gas

heat and cooling are established. Secondly

a bi-level bidding model for IESPs considering multi-energy demand elasticity is established to provide IESPs with wholesale-side bidding decisions and retail-side energy retail price decisions. Finally

an example is given to verify the proposed method. The results show that the method improves the total social welfare of the electricity and natural gas markets by 7.99% and the profit of IESPs by 1.40%. It can reduce the variance of the electricity

gas

and cooling load curves

especially the reduction of the variance of the electricity load curve can which reach 79.90%. It can be seen that the research in this paper has a positive effect on repairing the limitations of integrated energy trading research and improving the economics of the operation of IESPs.