In order to improve economic performance and management level, a new perfect theory of thermodynamic system needs to be established. The new theory can be used to predict changes of performance indexes of thermodynamic cycle in thermal power plant when parameters and structures varies, and to calculate operation performance indexes, and to support economic operation and optimum decisions. A new principle, called the Principle of Doing-Work Capability, and several new concepts are introduced into the Thermodynamic Cycle Theory of Multiple Energy Levels. According to the principle, several universal relations between state variants of thermodynamic cycle and thermal economic indexes of thermodynamic cycle can be conducted. Based on main thermodynamic cycle, deviation values of thermal economic indexes can be calculated by the new theory, and data that is used in calculation is easily obtained from online supervision system. Deviation analysis criterion varies with operation conditions. The new theory can supersede several existed thermodynamic cycle theories, such as the Cycle Function Method, and the Equivalent Enthalpy Drop Method, and the Matrix Method and so on. The new theory is more universal and systemic, and suitable to be used in supervision and control system of thermal power plant.

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