The　low-carbon　transformation　of　the　power　industry　is　of　great　significance　to　realize　the　carbon　peak　in　advance.　However,　almost　a　third　of　China＇s　CO2　emissions　came　from　the　power　sector　in　2019.　This　paper　aimed　to　identify　the　key　drivers　of　CO2　emissions　in　China＇s　power　industry　with　the　consideration　of　spatial　autocorrelation.　The　spatial　Durbin　model　and　relative　importance　analysis　were　combined　based　on　Chinese　provincial　data　from　2003　to　2019.　This　combination　demonstrated　that　GDP,　the　power　supply　structure　and　energy　intensity　are　the　key　drivers　of　CO2　emissions　in　China＇s　power　industry.　The　self-supply　ratio　of　electricity　and　the　spatial　spillover　effect　have　a　slight　effect　on　increasing　CO2　emissions.　The　energy　demand　structure　and　CO2　emission　intensity　of　thermal　power　have　a　positive　effect,　although　it　is　the　lowest.　Second,　the　positive　impact　of　GDP　on　CO2　emissions　is　decreasing,　but　that　of　the　power　supply　structure　and　energy　intensity　is　increasing.　Third,　the　energy　demand　of　the　industrial　and　residential　sectors　has　a　greater　impact　on　CO2　emissions　than　that　of　construction　and　transportation.　For　achieving　the　CO2　emission　peak　in　advance,　governments　should　give　priority　to　developing　renewable　power　and　regional　electricity　trade　rather　than　upgrading　thermal　power　generation.　They　should　also　focus　on　promoting　energy-saving　technology,　especially　tapping　the　energy-saving　potential　of　the　industry　and　resident　sectors.