Liquid air energy storage (LAES) is one of the most recent technologies introduced for grid-scale energy storage. The cryogenic regenerator, which can greatly affect the system efficiency, is the key component of the system. A non-ideal packed bed regenerator for the LAES system was investigated. The cold energy loss and the axial heat conduction of the packed bed regenerator exist in the intermittent period between the charging and discharging process, which significantly degrades the system performance. With rock particles used as the cold energy storage medium, the axial temperature distributions of the packed bed regenerator with different initial temperatures and intermittent periods were compared. Also, the cold energy loss with different boundary conditions was analysed. The results show that the intermittent period exacerbates the negative impact of the axial heat conduction on the performance of the packed bed, and the thickness of the thermocline decreases as the inlet temperature of the cold end decreases. Moreover, as the cold energy loss increases, the cold energy storage efficiency of the packed bed decreases significantly.