This paper presents an approximate model for computing the peak demand power in a metro railway system. The peak demand of substations can be calculated using the current vector iteration method. But the existing method requires many repeated calculations to determine the peak demand power, which makes it difficult to apply to the real-time peak power control problem. In this paper, we assume that none of the conditions vary except source impedance and make an approximate model for rapid calculation based on changes in the impedance of the power substation. The proposed model result is approximately the same as the existing model, which is demonstrated through simulation.