Abstract System-level dynamic models of power plants are valuable tools for the assessment and prediction of plant performance, decisions on the design configuration, and the tuning of operating procedures and control strategies. In this work, the development of an integrated power plant model is presented. This model is validated against steady-state data from a subcritical power plant with reheat and regenerative cycles. The coal-fired power plant model studied has nominal power generation of 605 MW and efficiency of 38.3%. Traditional, regulatory control architectures are incorporated into and tuned with the dynamic power plant model. Dynamic simulation shows that the plant model is stable for sudden changes in coal load, and the controllers are able to maintain the controlled variables at their set points. In this two-part publication, we present the complete workflow of data collection, model development and validation, control tuning, dynamic optimization formulation and solution, and supervisory control architecture for a coal-fired subcritical power plant. Part I focuses on elements of model development and analysis, illustrating the advantages of acausal, object-oriented modeling in power plant simulation. Part II illustrates the use of this model for efficiency optimization under transient part-load operation.