In the era of fast paced development, energy sector is also looking for methodologies which can diligently investigate the thermodynamics as well as economics of power utilities. The methodology need to be so designed that it is able to analyze the effect of operating parameters on plant performance and its costing. In this regard thermoeconomic investigation is a tool which combined thermodynamic concepts and economic principles to analyze thermal systems. Present paper deals with comparative thermoeconomic investigation of basic gas turbine (BGT) and intercooled recuperated gas turbine (IcRcGT) cycle based power utilities featuring air film cooling of turbine blades. The work also represents the effect of operating parameters on thermoeconomics of two aforesaid cycles. In present work Average-Cost-Theory approach has been adopted for the investigation. The results so obtained from calculation reports that IcRcGT offers 50% higher plant specific work with 27.8% higher fuel flow rate as compared to BGT for base case parameters (r(pc) = 30, TIT = 1500 K, eta(AC) = 88% and eta(GT) = 90%). The total cost rate for IcRcGT is 16.33% higher and at the same time related cost of electricity is 20% lower as compared to BGT for same operating parameters due to higher plant specific work. (C) 2017 Elsevier Ltd. All rights reserved.