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The electricity-heat integrated system can realize the cascade utilization of energy and the coordination and complementarity between multiple energy sources. In this paper, considering the thermal comfort of users, taking into account the difference in dynamic characteristics of electric and heating networks and the response of users’ demands, a dispatch model is constructed. In this model, taking into account the difference in the time scale of electric and thermal dispatching, optimization of the system can be improved by properly extending the thermal balance cycle of the combined heat and power (CHP) unit. Based on the time-of-use electricity prices and heat prices to obtain the optimal energy purchase cost, a user demand response strategy is adopted. Therefore, a minimum economic cost on the energy supply side and a minimum energy purchase cost on the demand side are considered as a bilevel optimization strategy for the operation of the system. Finally, using an IEEE 30 nodes power network and a 31 nodes heating network to form an electricity-heat integrated system, the simulation results show that the optimal thermal balance cycle can maximize the economic benefits on the premise of meeting the users’ thermal comfort and the demand response can effectively realize the wind curtailment and improve the system economy.