In order to give full play to the regulatory role of electricity price on demand, and effectively guide demand side resources to participate in scheduling, a joint optimization model of day-ahead generation scheduling and day-ahead time-of-use (TOU) price is proposed. Considering the impact of TOU on user benefits, the objective functions are the maximum social welfare and the minimum peak-valley difference, so as to enhance the effect of TOU by the coordinated scheduling of supply side and demand side. For the load response difference to the electricity price, different TOU schemes for different loads are designed. On the premise of protecting the interests of users and the utility companies, the utility companies transfer the benefits of delayed grid expansion to users to realize benefit sharing in the form of ceding profits, so the constraint of utility company ceding profits is considered in the model. The NSGA-II algorithm and priority list are used to solve this multi-objective optimization problem. The optimal solution is selected from the Pareto solutions by using the maximum satisfaction method. The simulation results of the modified IEEE 39-buses system show that the proposed method is effective. This work is supported by National Key Research and Development Program of China (No. 2017YFB0902600).