A power allocation method, wherein the method comprises: determining, by user equipment UE, a first start time point of a first control subframe and a second start time point of a second control subframe, wherein the first control subframe is used to transmit control information of a first target subframe, the second control subframe is used to transmit control information of a second target subframe, a transmission time of the second target subframe overlaps with a transmission time of the first target subframe, the second target subframe and the first target subframe have different subframe lengths, and the second target subframe and the first target subframe belong to different base stations or different cell groups; determining, by the UE based on the first start time point and the second start time point, whether a priority of the first target subframe is higher than a priority of the second target subframe, and determining first uplink channel information on the first target subframe and second uplink channel information on the second target subframe; and if the priority of the first target subframe is higher than the priority of the second target subframe, allocating, by the UE based on the first uplink channel information and the second uplink channel information, power to the UE in a base station or a cell group in which the first target subframe is located, and allocating reserved power of the UE to the UE in a base station or a cell group in which the second target subframe is located; or if the priority of the first target subframe is lower than the priority of the second target subframe, allocating, by the UE based on the first uplink channel information and the second uplink channel information, power to the UE in a base station or a cell group in which the second target subframe is located, and allocating reserved power of the UE to the UE in a base station or a cell group in which the first target subframe is located. determining, by user equipment UE, a first start time point of a first control subframe and a second start time point of a second control subframe, wherein the first control subframe is used to transmit control information of a first target subframe, the second control subframe is used to transmit control information of a second target subframe, a transmission time of the second target subframe overlaps with a transmission time of the first target subframe, the second target subframe and the first target subframe have different subframe lengths, and the second target subframe and the first target subframe belong to different base stations or different cell groups; determining, by the UE based on the first start time point and the second start time point, whether a priority of the first target subframe is higher than a priority of the second target subframe, and determining first uplink channel information on the first target subframe and second uplink channel information on the second target subframe; and if the priority of the first target subframe is higher than the priority of the second target subframe, allocating, by the UE based on the first uplink channel information and the second uplink channel information, power to the UE in a base station or a cell group in which the first target subframe is located, and allocating reserved power of the UE to the UE in a base station or a cell group in which the second target subframe is located; or if the priority of the first target subframe is lower than the priority of the second target subframe, allocating, by the UE based on the first uplink channel information and the second uplink channel information, power to the UE in a base station or a cell group in which the second target subframe is located, and allocating reserved power of the UE to the UE in a base station or a cell group in which the first target subframe is located.