It is accepted that CCPP has the highest fuel conversion efficiency among fossil fuel fired generation technologies. The extensive installed base of CCPP worldwide is justified by additional advantages: low capital investment, short construction time, low environmental impact and high operating flexibility. The operating flexibility, with fast loading and deloading and short start-up and shutdown durations, allows CCPPs to fulfill a wide range of operating duties, such cycling, intermediate load to base load, grid frequency or voltage control and part load operation; mostly on a competitively generated cost basis. The traditional approach to CCPP development is to design an optimised plant, taking into consideration the technical and economic boundary conditions of a specific project. This includes assumptions for operating regime: base load, intermediate load or cycling with daily start-up and shutdown. In a deregulated environment, plants are dispatched on merit. The assumptions related to operating regime and used for optimising the configuration of a particular CCPP, often deviate significantly during commercial operation. The objective of this work is to evaluate the impact of the operating regime on CCPP economic performance. During the economic feasibility evaluation of a power project it is frequently considered that the main factors affecting the electricity generation cost, are capital cost and fuel cost. As far as the operating regime is concerned, a number for yearly operating hours is then assumed and eventually sensitivity is considered. The content of this work is an investigation on how the capital, fuel and O&M costs, components of the generation costs, are affected by the utilisation factor, by operating modes and loads, frequency and duration of start-up and shudown [s&s] of the plant. The conclusion of the paper is that both, operating regime and operating procedure have an important impact on economic performance of combined cycle plants. Annual operating hours and the number of s&s influence the factors which contribute to the profitability and competitiveness of the plant, such as EOH, availability, performance degradation, O&M costs and directly the average plant output and efficiency. Finally the economic performance of combined cycle plants can be significantly improved by re-visiting the conceptual design and the operating concept.