In power communication networks, load balancing can reduce the overload of bottleneck nodes and make full use of resources. Aiming at the load balancing problem of power communication network in smart grid, this paper proposes a load balancing algorithm that combines ant colony algorithm and link weight algorithm. Based on the advantages of the ant colony algorithm, the optimal transmission link scheme is directly selected through the link weight judgment function. Through simulation, the proposed algorithm is compared with the commonly used load balancing algorithm, and the superiority and feasibility of the proposed algorithm are verified. The results show that this method is more suitable for complex application scenarios, and has better load balancing ability in power communication network, which has certain reference value.