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Combined heat and power production (CHP) based on solid oxide fuel cells (SOFC) is a very promising technology to achieve high electrical efficiency to cover power demand by decentralized production. This paper presents a dynamic quasi 2D model of an SOFC system which consists of stack and balance of plant and includes thermal coupling between the single components. The model is implemented in Modelica® and validated with experimental data for the stack UI-characteristic and the thermal behavior. The good agreement between experimental and simulation results demonstrates the validity of the model. Different operating conditions and system configurations are tested, increasing the net electrical efficiency to 57% by implementing an anode offgas recycle rate of 65%. A sensitivity analysis of characteristic values of the system like fuel utilization, oxygen-to-carbon ratio and electrical efficiency for different natural gas compositions is carried out. The result shows that a control strategy adapted to variable natural gas composition and its energy content should be developed in order to optimize the operation of the system.