Thermodynamic regeneration is regarded as a conventional technique to enhance the efficiency of gas turbines, by means of an internal recovery of waste heat from exhaust gases. In combined cycle power plants (CCGTs); only external heat recovery is usually applied, in order to achieve the highest steam cycle power. Combining internal and external recovery, while decreasing the power plant rated capacity, has the potential to boost the efficiency of CCGTs. This paper aims to examine the effects of thermodynamic regeneration on steam-gas power plants from the energy and economic point of view. First, a dual pressure combined cycle based on a regenerative gas turbine is designed using GateCycle software and effects on energy and economic performances are evaluated varying gas turbine operating parameters. Then, an off-design simulation of different CCGT configurations is carried out, in order to evaluate the power increase achieved by-passing the regenerator and its effects on efficiency and cost of electricity. The study has shown that the improvement of energy and economic performances of regenerative CCGTs is more and more pronounced with the increase of turbine inlet temperature (TIT). Additionally, regeneration enhances the power plant operational flexibility, allowing to obtain a 30% power increase with respect to the design value, if the regenerator is fully by-passed and the bottoming steam cycle is designed to manage the increased flue gas temperature. (C) 2015 Elsevier Ltd. All rights reserved.