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Operation mode of combined cooling heating and power (CCHP) system determines its energetic and environmental performances. This paper analyzes the energy flows of CCHP system and separated production (SP) system. The fuel energy consumptions of CCHP system following electrical demand management (EDM) and thermal demand management (TDM) are deduced respectively. Three indicators: primary energy saving, exergy efficiency and CO₂ emission reduction, are employed to evaluate the performances of CCHP system for a commercial building in Beijing, China. The feasibility analysis shows that the performance of CCHP system is strictly dependent upon building energy demands. The selection of CCHP operation modes is systemically based on building loads, CCHP system and local SP system. The calculation results conclude that CCHP system in winter under EDM achieves more benefits …