In light of increasing challenges related to fossil fuel consumption, global warming, and rising energy costs, optimizing energy systems has become essential. This study introduces a multi-purpose system designed to capture and utilize waste heat from boiler flue gases at the Tous power plant for simultaneous power generation, cooling, and heating. The system integrates an Organic Rankine Cycle (ORC) for power generation and an Absorption Refrigeration Cycle (ARC) for cooling, with the added function of recovering waste heat to preheat natural gas for the boiler and power plant. The system's performance was rigorously analyzed through energy, exergy, and exergoeconomic assessments. To determine the optimal operating conditions, a multi-objective optimization was conducted using the TOPSIS technique, focusing on critical parameters such as flue gas exit temperature, natural gas inlet temperature, and turbine inlet pressures. The results identified optimal conditions with a flue gas exit temperature of 532.5 K, a natural gas inlet temperature of 285 K, and turbine inlet pressures of 2.54 MPa and 14.62 MPa for the first and second turbines, respectively. Under these conditions, the system achieved an exergy efficiency of 41.1 %, cooling capacity of 133.1 kW, power generation of 210.4 kW, heat transfer to natural gas of 979.6 kW, and operational costs of 8.53 $/h. This study highlights the potential of the proposed system to significantly enhance energy efficiency and reduce operational costs in practical applications, offering a sustainable solution for energy management.