Aiming at the low proportion of capacity electricity price in existing transmission and distribution price in China’s provincial power grid, and the difficulty of recovering fixed costs in China’s provincial power grid, the problem of transmission and distribution pricing system is studied under the background of constructing a new power system in China’s provincial power grid. Typical transmission and distribution electricity pricing systems of Britain, the United States, and France under the complete electricity market environment are sorted out, and their characteristics and laws are summarized. Combined with the development needs of China’s provincial power grid to construct a new power system on this basis, the necessity of building a new transmission and distribution pricing system based on capacity electricity price is analyzed,and the electricity data of large industrial users in 11 prefecture-level cities of a province of China in 2021 is taken as an example to calculate the transmission and distribution price based on capacity electricity price. The results show that if the capacity electricity price is implemented, the transmission and distribution cost can be fully recovered even if large amount of PV is connected to the grid and load level drops, which has reference significance for the design of transmission and distribution pricing mechanism in China’s provincial power grid.