Constructing the power industry policy network and analyzing its structural characteristics is conducive to exploring the focus and direction of power industry policy and further improving the effectiveness of the policy. Taking the energy policy of Jiangsu Province since the 12th five-year plan as the research sample, this paper uses cite space to conduct a phased and holistic text quantitative analysis of energy policy based on co-word analysis. Through the measurement of intermediary centrality, modularity and silhouette, the energy policy of Jiangsu Province (China) is systematically studied. On this basis, the impact of energy and investment policies at the national level on the development of power industry is further analyzed. Results show that China’s power industry basically constitutes a set of interrelated and coordinated policy system, but there are still some problems such as obvious phased characteristics of clean energy policy and insufficient flexibility of investment capacity.