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This paper presents the analysis and comparison of different power generation technologies with the purpose of estimating their cumulative carbon dioxide (CO₂) emission over the selected timeframes. The proposed modelling framework has been tested on a specific case study, which is the Boundary Dam Power Station (Canada). The proposed technological scenarios include the refurbishment of the current coal-based station with a Natural Gas Combined Cycle (NGCC) facility. Additional variables under analysis include the composition of the input fuel (natural gas, biogas or a mixture between the two) and the potential adoption of Carbon Capture and Storage (CCS). The results of the paper show that, on a 35-years long timeframe, the adoption of co-fired NGCC with CCS would reduce the cumulative CO₂ emissions by 60% with respect to NGCC alone.