Operating characteristics of a triple pressure reheat HRSG are analyzed using a commercial software package (Gate Cycle by GE Enter Software). The calculation routine determines all the design parameters including configuration and area of each heat exchanger. The off-design calculation part has the capability of simulating the effect of any operating parameters such as power load, process requirements, and operating mode, etc., on the transient performance of the plant. The arrangement of high-temperature and intermediate-temperature components of the HRSG is changed, and its effect on the steam turbine performance and HRSG characteristics is examined. It is shown that there could be a significant difference in HRSG sizes even though thermal performance is not in great deviation. From the viewpoint of both economics and steam turbine performance, it should be carefully reviewed whether the optimum design point could exist. Off-design performance could be one of the main factors in arranging components of the HRSG because power plants operate at various off-design conditions such as ambient temperature and gas turbine load, etc. It is shown that different heat exchanger configurations lead to different performances with ambient temperature, even though they have almost the same performances at design points.