Conceptual and design studies on the European DEMOnstration Fusion Power Plant (EU-DEMO) are carried out under the lead of the EUROfusion Consortium. The Primary Heat Transfer System (PHTS) transfers heat from the nuclear heat sources, i.e. the breeding blanket, divertor, and vacuum vessel, to the secondary circuit called Power Conversion System (PCS) which generates electric energy. To mitigate undesirable transient effects resulting from the pulsed EU-DEMO operation, the Intermediate Heat Transfer System (IHTS) with the Energy Storage System (ESS) filled with molten salt is added between the PHTS and PCS. One of the four considered options for the blanket cooling and the related PHTS is the Water-Cooled Lithium-Lead Breeding Blanket (WCLL BB). Recently new cooling concept for the WCLL BB has been proposed. This work is focused on the design of the new configuration of the steam/water PCS for the option WCLL BB with the ESS. The detailed GateCycle model of the considered circuit is created and its operation during the plasma burn and during the dwell phase is simulated. The proposed model of the PCS cycle is used to study the effect of the operating conditions on the cycle power and efficiency, and its basic operating parameters.