Abstract: In order to study the changes in levelized cost of energy and cost of electricity supply after the carbon capture, utilization and storage (CCUS) retrofit of a coal-fired power station, the current development trend of the electricity-carbon market was summarized and analyzed, and a simulation model was built to show the cost and benefit of CCUS application for 660 MW coal-fired power station. A sensitivity analysis was carried out using the cost of carbon capture cost and carbon trading price as variables. Results show that the predicted levelized cost of energy of the thermal power units after CCUS retrofit will fall to the range of 20% upward fluctuation of the regional coal trading benchmark price between 2034 and 2035. After 2039, the change rate of levelized cost of energy before and after the transformation will be negative, which means that the levelized cost of energy after transformation will be lower than the target of levelized cost of energy before transformation. In addition, although the carbon capture cost and carbon trading price will have more or less impacts on levelized cost of energy and power supply cost, the coupling effect of carbon capture cost and carbon trading price still has good economic results in the future for the CCUS retrofit projects of the thermal power units.