A performance model of a Molten Carbonate Fuel Cell (MCFC as an abbreviation), that is an electrochemical energy conversion device for electric power generation, is discussed. Our purpose is to improve the presumptive ability of the MCFC model and to investigate the impact of MCFC characteristics in fuel cell system simulations. First of all, basic data are obtained experimentally by single–cell tests. We pay special attention to the MCFC overall characteristics with respect to oxidant composition. Secondly, a correlation formula based on the experimental data is derived as for the cell voltage, oxygen and carbon dioxide partial pressures. Finally, after three types of the MCFC system option are assumed, trade–off studies are made dependant on the performance models. As for the fuel utilization, system characteristics using the proposed correlation are very similar to those using the previous model. But the amount of decrease predicted by this proposed model with respect to the system efficiency is larger than that by the previous model, at the high air utilization. © 1990 IEEE