The Topping Pressurized Circulating Fluidized Bed combustion process (TPFBC), sometimes referred to as Second Generation PCFB, can convert coal to electric power at high efficiency while achieving low stack emissions. A major enhancement to the competitiveness of the TPCFB process is operation of the plant at very low excess air levels which maximizes plant power output and minimizes the cost of the electricity generated. This paper will describe the TPCFB process and discuss how low excess air operation enhances the competitiveness of this technology.