The　electrical　energy　storage　(EES)　with　large-scale　peak　shaving　capability　is　one　of　the　current　research　hotspots.　A　novel　combined　cooling,　heating　and　power　(CCHP)　system　with　large-scale　peak　shaving　capability,　the　compressed　air　energy　storage　integrated　with　gas-steam　combined　cycle　(CAES-GTCC),　is　proposed　in　this　paper.　In　the　presented　system,　the　methanol　absorbs　the　compression　heat　through　the　cracking　reaction　avoiding　the　application　of　a　thermal　energy　storage　system　in　compressed　air　energy　storage　(CAES)　system,　and　the　generated　cracked　gas　is　burned　to　drive　the　gas-steam　combined　cycle　(GTCC)　for　generating　electricity.　During　discharging,　part　of　the　gas　diverted　from　the　GTCC　heats　the　air　that　is　about　to　enter　the　air　turbine　in　CAES　to　increase　the　total　output　power　of　the　system.　Moreover,　the　coupled　system　could　output　heating　energy　and　cooling　energy　at　the　same　time　as　electricity　to　realize　the　energy　cascade　utilization.　By　building　the　thermodynamic　model　of　the　system,　the　thermodynamic　performance　of　the　system　and　the　influence　of　various　important　parameters　on　the　performance　of　the　system　are　analyzed.　The　results　show　that　the　output　power　of　the　CAES-GTCC　during　discharging　accounted　for　157.09%　of　the　total　output　power　during　the　general　period.　Furthermore,　the　energy　efficiency　of　CAES-CTCC　can　reach　90.81%　when　the　electrical　efficiency　of　the　CAES　and　equivalent　electric　efficiency　of　the　CAES-GTCC　are　48.07%　and　74.51%,　respectively.　Based　on　the　second　law　of　thermodynamics,　the　exergy　efficiency　of　the　CAES-GTCC　is　expected　to　be　52.89%.　©　2022　Elsevier　Ltd