This paper presents analysis results for the effect of power control strategies on the part load performance of gas turbine based power generation systems utilizing exhaust heat of the gas turbine such as combined cycle power plants and regenerative gas turbines. For the combined cycle, part load efficiency variations were compared among different single shaft gas turbines representing various technology levels. Power control strategies considered were fuel only control and IGV control. It has been observed that gas turbines with higher design performances exhibit superior part load performances. Improvement of part load efficiency of the combined cycle by adopting air flow modulation was analyzed and it was concluded that since the average combined cycle performance is affected by the range of IGV control as well as its temperature control principle, a control strategy appropriate for the load characteristics of the individual plant should be adopted. For the regenerative gas turbine, it is likewise concluded that maintaining exhaust temperature as high as possible by air flow rate modulation is required to increase part load efficiency.