The invention discloses an energy storage type power regulator for a power distribution system, and the power distribution system. The energy storage type power regulator comprises a first duplex-winding self-coupled transformer, a second duplex-winding self-coupled transformer and an energy storage type chained power regulating unit; the energy storage type chained power regulating unit is composed of an energy storage type chained power regulating branch; the energy storage type chained power regulating branch is composed of a first single-phase full-bridge AC-DC convertor, a first bidirectional DC-DC convertor, an energy storage device, a second bidirectional DC-DC convertor and a second single-phase full-bridge DC-AC convertor, which are sequentially connected in series; the power distribution system comprises a power distribution transformer and a load; the energy storage type power regulator is connected between the A phase and the B phase of the low-voltage side of the power distribution transformer; and the energy storage type power regulator is connected between the B phase and the C phase of the low-voltage side of the power distribution transformer. By means of the energy storage type power regulator for the power distribution system, and the power distribution system disclosed by the invention, the three-phase current of the power distribution transformer can be balanced; the utilization rate of the transformer is increased; the reactive power of the load is dynamically compensated; the power factor of a power distribution network is increased; the active power of the load is rapidly compensated; and the power supply reliability of the load is improved.