Abstract: Some achievements have been made in a province of China for old cavern reconstruction of salt-cavern gas storage, but some of the reconstructed caverns are not suitable to be used as underground gas storages for peak sheaving of pipeline network due to small working gas capacity and high cost of cushion gas. However, underground salt caverns are still very important strategic resources. Specifically, these salt caverns, if constructed as a compressed air energy storage power station, can be used to store power resources in the valley power stage. Based on successful foreign cases and the given situation of these underground salt caverns, specific parameters for reconstruction of the energy storage power station were calculated, and the economic analysis was carried out for the energy storage power station reconstructed with old salt caverns. The results show that X1 old cavern can store 3.07×10⁶ kW·h of energy and generate 17.49×10⁴ kW·h power in a single injection production cycle according to the actual situation. The reconstruction of salt cavern gas storage would have a good development prospect under the background of "carbon peaking and carbon neutrality" if it could explore to establish a suitable business mode while improving the technology.