This paper conducts a study to determine the feasibility of energy recovery from municipal refuse treatment plants. Economics of power generation is mainly discussed. Two different refuse processing alternatives were considered; incineration by conventional stoker furnace and pyrolysis by twobed fluidized reactor. Two different types of turbine generators, i.e. back pressure turbine and condensing turbine, and one advanced cycle of gas turbine with heat recovery were combined with the refuse processing alternatives. How the financial returns liquidate the capital investment is discussed depending on the plant scales of 200, 600, and 1, 200 tons per day.