To achieve further substantial reductions in the cost of concentrating solar-thermal power systems, recent efforts have been directed towards changing the working fluid in the receiver, adopting new approaches to thermal energy storage, and incorporating higher-efficiency power cycles. In this study, we present a novel CSP system configuration under development in ASTRI research program in Australia, incorporating a tubular sodium receiver, a high-temperature phase-change material storage unit, and a supercritical CO2 power block. The model is implemented using the SolarTherm framework in the Modelica language, and simulated using Dymola software. The novel system was compared to a 'reference' system with a molten salt receiver, two-tank storage, and subcritical steam Rankine cycle. For verification, the reference system was also modelled using the System Advisor Model software, and differences of <1% in annual receiver output and <2% in net electrical output were achieved when comparing Modelica and SAM simulations, despite difference operating strategies and time resolution. The results of the analysis of the novel system showed an improvement of annual solar-to-electricity efficiency to 19.6%, up from 15.6% for the reference system. This was achieved as a result of higher power cycle efficiency, despite the reduction in optical and receiver efficiencies resulting from the higher working fluid temperature. The ASTRI system was economically optimised for financial performance using 2012 as the basis year, and reached a minimum levelised cost of electricity of 11.42 cAUD/kWh for a solar multiple of 2.2 and storage capacity of 8-9 h at the location of Alice Springs, Australia.