The deregulated energy market and the increasing quota of electrical capacity covered by non-predictable renewable sources require strongly irregular and discontinuous operation of thermoelectric plants to satisfy users demand and compensate the variability of renewable sources. As a consequence, due to thermo-mechanical fatigue, creep and corrosion, a lifetime reduction of the most critical components Occurs. The availability of a procedure able to predict the residual life of plant devices is necessary to assist the management decisions about power plants' operation and maintenance scheduling. The first step of this procedure is the capability of simulating the plant behaviour versus time by evaluating the trends of the main thermodynamic parameters that describe the plant operation during different transient periods. In this context, the main contribution of the present paper is to propose a complete procedure able to simulate the plant dynamic behaviour and estimate the residual life reduction of some components. Indeed, two different models, developed by two different research groups, of the same single pressure heat recovery steam generator unit are presented and utilized to characterize the dynamic behaviour of the above mentioned power plant. The main thermodynamic variables during different transient operation conditions are predicted and good correspondence between the two methods is obtained. It can be also noted that, when the geometry and size of the devices are considered, the thermal inertia related to heat exchangers tubes, pipes and other physical masses causes a delay in the system response. Moreover, a residual life estimation of the most stressed component is presented. (c) 2014 Elsevier Ltd. All rights reserved.