Abstract: Pumped hydro storage(PHS) is a commonly used energy storage method in the grid, primarily benefiting from peak-shaving services. Under the current dispatch management system, PHS is directly controlled by the grid. However, in an integrated operation model, where PHS forms a power unit with specific energy sources and is jointly dispatched, economic efficiency can be improved. This paper establishes a market-oriented dispatch model for PHS and analyzes its revenue model using a mixed-integer linear programming algorithm. The results show that as the curtailment electricity price increases, the revenue from PHS decreases, and the declining trend slows down when the curtailment electricity price exceeds 0.3 yuan/(kWh).