The energy consumption of terminal of Internet of Things has attracted much attention in the study of smart Internet of Things. How to simulate the energy consumption process of the terminal from the theoretical level, so as to analyze the energy consumption and delay of the terminal are important issues. In this paper, taking the power monitoring terminal as an example, a Markov model is established for the Narrow-Band Internet of Things (NB-IoT) terminal with periodic automatic reporting. The working state of the terminal includes PSM (Power Saving Mode), random access (RACH), data transport and receive (Tx/Rx), short eDRX (Extended Discontinuous Reception), long eDRX and terminal disconnection (ERROR). According to the proposed model, the effects of network quality, maximum possible number of RACH request times (Rmax ) and data retransmission times (N1, N2) on terminal energy consumption and delay are analyzed. The numerical results show that network quality, maximum number of random access and maximum number of data retransmission directly affect the energy consumption and service quality of the terminal. Reasonable configuration of the above indicators can effectively improve the service life of the terminal and meet the customer’s requirements for the terminal service quality under the condition of maximum power saving. The model provides a reference for energy consumption and delay optimization of NB-IoT terminal.