The performance of power plants is very critical since it is directly related with operating and electricity production costs. Among the other different type of power plants, coal-fired ones have advantages such as reliability and low cost fuel. In this paper, a coal (lignite) fired thermal power plant having capacity of 160 MW is taken into consideration and the impact of condenser pressure, moisture content of lignite, excess air coefficient, efficiency of turbine pressure and heater numbers on power plant thermal efficiency is investigated. It is aimed to determine performance losses of each equipment by means of the thermodynamics and economic analysis. In this scope, it is expected that the power plant operator will be able to evaluate the reduction potential of equipment performance losses and ensure more effective use of the power plants by correctly planning the maintenance and rehabilitation needs and times. In the calculations, the boiler efficiency was determined with EN 12952-15 standard (indirect method) since this method has higher accuracy in coal fired boilers. It is seen that the condenser pressure and excess air coefficient increments have not significant impact on power plant efficiency compared to moisture content of lignite, excess air coefficient, efficiency of turbine pressure and heater numbers. The significant effect is observed for fuel moisture content which rises from 22% to 47% and the power plant efficiency falls from 40% to 28%. The variation of the power plant thermal efficiency in case of failure of heaters is investigated and the power plant efficiency has decreased from 40.17% to 36.09% when the pre-heaters are no longer in to be in use because of any reason. In addition, revenue losses are estimated for each main equipment efficiency reduction for better use of power plant capacities and electricity lowering production costs.