Based on the field survey data of 26 thermal power enterprises with an annual comprehensive energy consumption of more than 200 000 tons of standard coal in Xinjiang, the energy saving and emission reduction efficiency values of 26 enterprises were calculated by using the non-expected output SBM-DEA model, and the reasons for the differences in energy saving and emission reduction efficiency of various thermal power enterprises were empirically explored by using the Tobit model. The results show that the overall energy saving and emission reduction efficiency of Xinjiang thermal power enterprises is relatively low, and the average energy saving and emission reduction efficiency in northern Xinjiang is lower than that in southern Xinjiang. Factors such as technological progress, establishment time, government subsidies and regional economic development can significantly improve the energy conservation and emission reduction efficiency of thermal power enterprises. According to the research results, corresponding countermeasures and suggestions are put forward from the two levels of government and enterprise.