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Among various kinds of flexible loads resources in power system, the thermostatically controlled loads (TCLs) are considered as the excellent candidates for the demand response (DR) programs due to the heat/cool storage characteristics. Effective operation and coordination of TCLs in DR programs requires an accurate model to capture the aggregate power. One appealing approach is the equivalent energy storage (EES) method, which describes the change of aggregate power offered by the TCLs as the dynamic of an energy storage model with limits on the output power and the energy capacity. In this paper, an EES model with the second-order equivalent thermal parameters (second-order ETP) model is established for interpretation of TCLs dynamic characteristics. Considering the internal and external heat exchange of the TCLs, the relationships between the heat exchange power and energy storage of the TCLs EES model are redefined. In order to exert the actual potential of TCLs in day-ahead scheduling, the time-varying charging-discharging power and energy storage constraints of the TCLs EES model are developed. By this way, more feasible scheduling results can be obtained. The performance of the proposed method is verified by the testing results.