Combining with the reform outcome of countries in the world, this paper analyzes the current electric power industry's value chain in China, and argues that there are a lot of problems. By studying the economic leading of terminal price to the consumers' reaction, it presents to take electric price as a key link to study the optimization of electric power industry's value chain in China. It researches contents, priorities and projects of the electric power industry's value chain from its generating, transmitting, distributing and consumers, and expects to provide reference for the development of Chinese electric power industry.