This article presents a power system joint optimization generation regulation method based on the improved balance optimizer, which takes the five factors of power system network loss, voltage offset, generation cost, fuel cost, and comprehensive pollution emission as the objective function and takes the internal power balance of the system, each generator set, generation capacity, generation flow, and up and down climbing as the constraints. Fully considering the current energy-saving development objectives and the impact of economic dispatching, taking stable and safe operation as the core, the power generation dispatching model is established by improving the balance optimizer. The model realizes the maximum power generation with the lowest energy consumption parameters and transitions from the original power generation energy consumption of the power system to the best energy-saving power generation energy consumption so that the power value of the system reaches the target balance and completes efficient dispatching. Simulation experiments show that the proposed method can ensure the most reasonable power load in both summer and winter. The average load in summer and winter is reduced from 254.78/mw to 205.36/mw, down about 19.39%, which can ensure the power generation stability of the power system. The average power generation cost after dispatching is 129,920 $/h, which is significantly improved by comparing with 131,225 $/h before dispatching and can realize certain environmental benefits.