Due to the large installed capacity of new energy and the shortage of peak regulation resources on the generation side, there is a serious problem of abandonment of wind and light in the new power system. To solve this problem, a spot market joint clearing mode with both sides of generation and customer participating in peak regulation is proposed in this paper. Deep peak regulation on the generation side, peak regulation with flexible load, new energy consumption and the spot market are combines in this mode, which fully explores the peak regulation capabilities on both sides of generation and customer. Firstly, a model with two parts is established in this paper. The first part is for day-ahead market and real-time market, and the other one is for both sides of generation and customer participating in peak regulation. Energy storage and power customers are regarded as customer side peak regulation resources in the model. Power customers are divided into flexible adjustment customers and non-flexible adjustment customers according to the ability to track real-time scheduling instructions. Secondly, the settlement and allocation mechanism of peak regulation auxiliary service are designed, considering the contribution and benefit degree of each market subject. Finally, the effectiveness and reasonableness for new energy consumption of the proposed market mode are verified by a calculation example. The results show that the market mode proposed in this paper reduces the amount of wind and light abandonment by 17.3% compared with the mode that only the power generation side participates in peak regulation.