to heat domestic hot water the high temperature flue gas water heat exchanger 5 the medium temperature flue gas water heat exchanger 6 and the low temperature flue gas water heat exchanger 7 recover the flue gas waste heat for heating domestic hot water based on the combined heating power and cooling apparatus with energy storage type of present invention the operating method of the combined heating power and cooling apparatus with waste heat recovery and energy storage type is described in detail below in embodiments of the present invention the operating manners of the combined heating power and cooling apparatus with energy storage type are regulated through different combinations of valve opening and closing such that the apparatus may operates during electrical load valleys electrical load means and electrical load peaks in winter and summer respectively the detailed process is described as follows 1 the combined heating power and cooling apparatus with energy storage type may operate during electrical load valleys means and peaks in winter through different combinations of valve opening and closing and the detailed operating process is 1 when the apparatus operates during electrical load valleys in winter that is when the active distribution network needs to operate in a lowered electrical load each of a eighth valve 28 a fifteenth valve 135 a seventeenth valve 137 a twenty second valve 142 and a fifth circulating pump 115 is opened each of a ninth valve.