Thermal analysis of a heat and power plant with a high temperature gas cooled nuclear reactor is presented. The main aim of the considered system is to supply a technological process with the heat at suitably high temperature level. The considered unit is also used to produce electricity. The high temperature helium cooled nuclear reactor is the primary heat source in the system, which consists of: the reactor cooling cycle, the steam cycle and the gas heat pump cycle. Helium used as a carrier in the first cycle (classic Brayton cycle), which includes the reactor, delivers heat in a steam generator to produce superheated steam with required parameters of the intermediate cycle. The intermediate cycle is provided to transport energy from the reactor installation to the process installation requiring a high temperature heat. The distance between reactor and the process installation is assumed short and negligable, or alternatively equal to 1 km in the analysis. The system is also equipped with a high temperature argon heat pump to obtain the temperature level of a heat carrier required by a high temperature process. Thus, the steam of the intermediate cycle supplies a lower heat exchanger of the heat pump, a process heat exchanger at the medium temperature level and a classical steam turbine system (Rankine cycle). The main purpose of the research was to evaluate the effectiveness of the system considered and to assess whether such a three cycle cogeneration system is reasonable. Multivariant calculations have been carried out employing the developed mathematical model. The results have been presented in a form of the energy efficiency and exergy efficiency of the system as a function of the temperature drop in the high temperature process heat exchanger and the reactor pressure.