The system taken into consideration consists of the Corex unit, combined cycle power plant and air separation unit (ASU). The Corex process (trademark of Siemens-VAI) is one of technologies for cokeless hot metal production. Coal is gasified by oxygen in the hot metal environment. The excess gas can be used out of installation. It has been assumed that the Corex export gas is fired in combined cycle. The gas turbine (GT) structure was assumed as a fixed simple cycle while the heat recovery steam generator (HRSG) and steam turbine arrangements are free for optimization. The examples of independent variables selected for optimization are number of HRSG pressure levels, GT pressure ratio, minimal temperature differences in HRSG, flow rate of compressed air form GT compressor to ASU. Finally, 16 independent variables have been qualified for optimization. The synthesis optimization is based on the superstructure method. The economic net present value (NPV) has been chosen as the objective function. All power plant facilities have been modeled on the GateCycle software. The off-design models include, among others, the GT blade cooling and HRSG heat transfer coefficient analyses. Two optimization methods - genetic algorithm and Powells conjugate directions have been coupled in one hybrid procedure. The whole optimization analysis has been repeated several times for different price scenarios on the coal, iron and electricity markets. (C) 2008 Elsevier Ltd. All rights reserved