The invention discloses a combined cycle and combined heat and power (CHP) equipment and process. The equipment is provided with a plurality of branch systems comprising gas turbines and waste heat boilers, wherein the waste heat boilers utilize high-temperature flue gas exhausted by the corresponding gas turbines as heat exchange heat sources so as to provide required steam for steam turbines and heat users; and at least one of the branch systems is an adjustable branch system which can adjust and distribute the flow of the waste heat boilers therein, which enters the steam turbines and heat supply pipe networks, so that the generated heat and power can meet the practical heat and power demands. By using coke oven gas as the fuel, the invention realizes good heat energy matching with the chemical production process and the like, and has the advantages of more reasonable energy level matching, high overall efficiency and flexible heat and power load adjustment.