This paper presents the application of pinch and exergy analysis on a Brown-Boveri regenerative steam turbine power plant (1955). Pinch and exergy analysis is a simple and cost-saving tool that is used to scope for potential improvement in power production and energy usage before going into detail design. Combined together, exergy analysis was able to locate the system’s inefficiency while pinch analysis was used to target potential improvement. The application of the analysis started by simulating and extracting stream data from the existing base case plant. Exergy targets were set by plotting and comparing the exergy of the system to the source of exergy from the fuel. Modifications were proposed on three areas namely, steam pressure, steam temperature and fuel consumption. Results from the analysis showed potential shaft work improvement from 837 MW to 844 MW or an increase by 0.8%. Thermal efficiency improved by 0.3% from 33.2 to 33.5%. Fuel rate reduction from 7609 kgmol/s to 7167 kgmol/s, or 6.2% saving, were also achieved. With rising concern on the efficient use of non-renewable energy source and the protection of our environment, every little improvement is a step forward.