Abstract: The high-quality development of energy is an important part of China’s high-quality economy, among which the transformation and development of electricity is the key to energy revolution. Focusing on electricity and large-scale development and utilization of new energy is a key measure to promote the clean and low-carbon transformation of energy, and it is also a long-term plan to ensure energy security and achieve the goal of “dual carbon”. At present, there is a misalignment between the development and consumption of new energy in China, which cannot effectively ensure the full use of new energy. Based on Marx’s theory of social reproduction, power generation enterprises are in the production link, power grid enterprises are in the distribution and circulation link, and the national economy is on the demand side. The four links of power reproduction are indispensable, and only by matching each other can we ensure the efficient operation of power reproduction and the high-quality development of the national economy. Therefore, the clean and low-carbon transformation of China’s power industry requires joint efforts from the four links of power generation, power grid, electricity consumption and energy storage to ensure that new energy is “generated”, “distributed” and “used”.