Three thermoeconomic methodologies, specific exergy costing (SPECO), modified productive structure analysis (MOPSA) and the Moran, were used to compare cost flows and products interactions between system components in the context of an existing binary geothermal power plant in western Turkey. With the objective of identifying advantages and disadvantages, exergy and exergoeconomic analyses were conducted using actual plant data to evaluate plant performances and thermoeconomic costs. Overall energy and exergy efficiencies of the plant were calculated as 13.5% and 47.3% and unit exergetic electricity costs were determined as 0.0436 $/kWh for MOPSA, 0.0367 $/kWh for SPECO and 0.0355 $/kWh for Moran.