Hydrogen as a clean fuel, is key energy carrier for sustainable development, and its production via water electrolysis is most desirable for its carbon free nature. Nuclear power provides good opportunity to satisfy the huge energy demand associated with the process, in addition to electrical power generation. Modelling an efficient and cost effective nuclear based power and Hydrogen cogeneration system and optimizing it to enhance its performance is the core academic problem addressed in the present study. It proposes a power plant cycle aided by a nuclear reactor, providing 300 MW thermal power input. Supercritical CO2 Brayton cycle is used as the main cycle, instead of traditional Helium Brayton cycle or steam Rankine cycle. To increase the cycle efficiency, by reducing the compression work and by reducing the cold source loss, main compression intercooling and waste heat recovery by an Organic Rankine Cycle (ORC) is introduced together with recompression Brayton cycle arrangement. The power coming from recovered waste heat goes to a Proton Exchange Membrane Electrolyzer (PEME), which facilitates the production of Hydrogen by splitting water via electrolysis. Additional attention is given to ORC fluid selection by employing and comparing the performance of widely acknowledged R245fa together with its more eco friendly replacements, R1233Zd(E) and R1234Ze(Z). The evaluation of the system performance is conducted through the lenses of Energy, Exergy, and Economics. Essential parameters are scrutinized to gauge their impact on two pivotal objectives. Overall Exergy Efficiency(ηex) takes care of the thermodynamic performance and the economic aspect is scrutinized by Levelized Cost of Energy (LCOEn). Notably, by employing R245fa as the ORC working fluid, the system attains peak Energy efficiency of 42.13% and Exergy efficiency of 58.32%, and a minimum LCOEn of 0.063 USD/kWh. Of all the components associated with the system nuclear reactor tops the chart for maximum exergy destroyed(40.8% of total) as well as maximum investment cost(65.7% of total). Pump contributes least to exergy destruction(0.03% of the total) and heat exchangers hold least share(1.1% of total) for investment cost. Furthermore, a multiobjective optimization exercise is executed to fine-tune the system’s operational parameters. This optimization results in a 3.12% increase in Overall Exergy Efficiency and a 9.79% decrease in LCOEn compared to the base operating condition with R245fa used as the ORC fluid. The ηex & LCOEn in best possible operating condition are 58.25% & 0.0645 USD/kWh using R245fa as ORC fluid, 58.23% & 0.0645 USD/kWh using R1233Zd(E) as ORC fluid and 58.22% & 0.0644 USD/kWh using R1234Ze(Z) as ORC fluid. If same amount of electrical Power is supplied to PEME for both with and without ORC configuration, having an ORC is advantageous both in terms of superior Exergy Efficiency and lower LCOEn. The proposed configuration is also economically more lucrative with higher Net Present Value(NPV) and Benefit to Cost Ratio(BCR). For example, when PEME power input for both the cases is 10 MW, proposed system has NPV = 201.79 Million USD & BCR = 1.70 compared to NPV = 164.03 Million USD & BCR = 1.58 for without ORC configuration. Even if in without ORC configuration, no electrical power is supplied to the electrolyzer, adding an ORC to produce Hydrogen will still achieve maximum 1.57% Exergy Efficiency increment, compared to only electrical power production by sCO2 Brayton cycle. It is seen that in base condition, the NPV is still superior for the proposed configuration (203.03 to 189.32 Million USD), and the BCR dips only slightly from 1.72 to 1.71.