This paper presents an advanced exergy analysis of an electricity generation facility in the Eskisehir Industry Estate Zone in Turkey. The total electricity generation rate is approximately 55 MW. The exergy efficiency of the system is 0.402 and the total exergy destruction rate of the system is 78.242 MW. The unit exergy cost of electrical power that is generated by the system is 25.660 $/GJ, and the total exergoeconomic factor of the system is 0.247. Advanced exergetic and exergoeconomic analyses were applied to the considered system. The advanced exergoeconomic analysis shows that the combustion chamber, the high-pressure steam turbine and the condenser have great economic improvement potential because of their high exergy destruction cost rates. Similarly, the heat recovery steam generator and the condenser have significant potential because of their investment costs. In addition, suggestions to improve the system economical parameters are provided. Finally, it can be concluded that relations between the components are strong. (C) 2013 Elsevier Ltd. All rights reserved.