The main problem of gas turbine generating units operating in the simple cycle system is their relatively low thermal efficiency, which leads to large thermal energy losses. The current research aims to study the economic analysis of Kirkuk gas power plant. Field data of gas turbine unit for the year of 2019 were used. The results of the study showed that the cost of exported energy is higher than the cost of energy produced. The results showed a 23% increase in the cost of energy produced in summer compared to winter. A decrease in actual production compared to the planned production is observed by 12.8%, where the highest actual production for the month of March was 162,108 MW, while the planned was 186,000 MW. Also, the month of July witnessed a very low fuel consumption rate for natural gas compared to the rest of the months, where the average fuel consumption was 0.273 m3/kW, while the month of January has a high fuel consumption rate for natural gas compared to the rest of the year with average fuel consumption of 0.312 m3/kW. The rate of increase in fuel consumption between July and January was 14.2%, and the results also showed that the ratio of production to design capacity for January was the highest and amounted to 87%, and the highest efficiency reached 33%, while July was the lowest production rate in terms of design capacity, reaching 53% and efficiency of 29.8%.