Abstract.With the rapid development of the national economy, the pace of construction of power facilities is being continuously accelerated. While carrying out the social responsibility, the electric power enterprises are also pursuing economic, social environment and comprehensive value maximization. Therefore, the current project cost management model of the whole process of power industry in China has been unable to meet the goal of maximizing the efficiency of power enterprises. The life cycle cost (LCC) management is based on the life cycle of the project item as the research object, to implement the control of cost in different stages of project decision, design, construction, operation and maintenance. It is a management method with the minimum in the whole life cycle cost as the target. The research discusses the life cycle cost of substation, and from economic load rate, capacity, number choice and estimation model of whole life cycle of the main transformer economy, analyzes the application of life cycle cost in the choice of main transformer. And then, taking a substation as an example, the example analysis is carried on.
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