A main air compressor delivers a compressed ambient gas flow with a compressed ambient gas flow rate to a turbine combustor. A fuel stream with a flow rate is delivered to the turbine combustor and mixed with the compressed ambient gas flow and an exhaust gas flow and burned with substantially stoichiometric combustion to form the exhaust gas flow and drive a turbine, thus operating the power plant at a first load. A portion of the exhaust gas flow is recirculated from the turbine to the turbine compressor and a portion is delivered to an exhaust path. The fuel stream flow rate and the compressed ambient gas flow rate are reduced, and substantially stoichiometric combustion is maintained and the power plant is operated at a second load. The fuel stream flow rate is further reduced and lean combustion is achieved and the power plant is operated at a third load.