SUMMARYEnergy and exergy analysis were carried out for a combined-cycle power plant by using the data taken from its units in operation to analyse a complex energy system more thoroughly and to identify the potential for improving efficiency of the system. In this context, energy and exergy fluxes at the inlet and the exit of the devices in one of the power plant main units as well as the energy and exergy losses were determined. The results show that combustion chambers, gas turbines and heat recovery steam generators (HRSG) are the main sources of irreversibilities representing more than 85% of the overall exergy losses. Some constructive and thermal suggestions for these devices have been made to improve the efficiency of the system.