This paper presents an energy analysis of a three-cylinder steam turbine from a combined cycle power plant. Observing all the cylinders from the analyzed turbine, it is found that the dominant mechanical power producer is Low Pressure Cylinder (LPC), followed by the Intermediate Pressure Cylinder (IPC), while High Pressure Cylinder (HPC) is the cylinder which produces the lowest mechanical power. Whole observed steam turbine develop 119.41 MW of useful mechanical power. Energy loss and energy efficiency of all cylinders are reverse proportional – higher energy efficiency will result with lower energy loss and vice versa. IPC is the cylinder which has the lowest energy loss (equal to 2.59 MW) and the highest energy efficiency of 93.32%. Whole observed steam turbine has energy loss equal to 23.43 MW, while its energy efficiency is equal to 83.60%, what falls in the expected range of such low power steam turbines. Steam mass flow rate through each cylinder is the main element which defines produced mechanical power and energy flows.