• A gas turbine model was estabilished considering recuperator, fuel, and generator. • The recuperator is the dominant component for thermal inertia of smallgas turbine. • 1-D heat soakage model was more proper for radial rotor than 0-D lumped model. • The thermal inertia and volume effect are good for gas turbine with sudden load change. • Overspeed in load shedding and surge in deceleration need to be studied case by case. Low-Btu fuels such as land fill gas and bio-gas are good alternatives to high priced natural gas. Due to the limited production of low-Btu fuel, small gas turbines are widely applied in such applications. For higher power efficiency at full and part load conditions, the small gas turbine is always equipped with a recuperator and a high-speed generator. Due to low shaft inertia, a small gas turbine’s speed response is quick. Therefore, for standard simple cycle gas turbine, control lags from instruments, actuators, thermal inertia, or volume effect may induce control instabilities during transient loading, and resulting in over speed, flow instabilities, and even mechanical failure. However, for recuperated engine burning low BTU fuel, other factors including the large volume of the combustor and recuperator, the thermal inertia of the rotor and recuperator, lags in the fuel valve lags, and efficiency changes caused by rectifiers of the high-speed generators could all induce visible changes and lags in the engine’s transient operations. This paper summarizes the influences of the gas turbine engine itself, the recuperator, and the high-speed generator in one model. It is believed that this is the first time that all these effects and interactions have been analysed together. Heat soakage, volume dynamics, recuperator transient characteristics, and the rectifier model were combined and tuned in detail to understand the separate effects. From the analysis of transient cases such as, load shedding and acceleration, conclusions are drawn made regarding overspeed and recovery time. The recuperator thermal inertia, low-Btu fuel, and combustor and recuperator volume effect interact with each other to produce more than three times larger overspeed or nearly five times more recovery time compared to a natural gas engine with recuperator. The fuel valve with a 0.02 s-time constant was found to be adequate even for the most severe case described in this paper. The recuperated gas turbine did not necessarily lead to lower compressor surge margin and should be investigated on a case-by-case basis. Rectifier system efficiency variation should be taken into account especially for the acceleration process. To convert a natural gas turbine engine into low-Btu gas turbine, the matching point of the gas turbine components needs to be carefully selected for efficiency, surge margin, and transient manoeuvre behaviour.