A superconducting magnetic energy exchange (SMEE) model based on a circuit-field-superconductor-coupled method is presented. The objective power system problems to be solved, e.g., power and load fluctuations, are transformed into equivalent energy exchange demanding values for the superconducting coil used in a superconducting magnetic energy storage (SMES) device. With the model, the buffering effects for the external power and load fluctuations and the superconducting properties of the superconducting coil itself can be obtained equivalently for optimizing and evaluating the designed SMES device. Four coil-current-dependent formulas are derived to estimate the hysteresis loss, coupling current loss, eddy current loss, and flux flow loss of the superconducting coil under different energy exchange operation conditions. A case study has been carried out using a Bi-2223 coil. The obtained results verify the effectiveness of the SMEE model and its feasibility for practical applications.