This paper assesses a parallel electric hybrid propulsion system utilizing simple and recuperated cycle gas turbine configurations. An adapted engine model capable to reproduce a turboshaft engine steady state and transient operation is built in Simcenter Amesim and used as a baseline for a recuperated engine. The transient operation of the recuperated engine is assessed for different values of heat exchanger effectiveness, quantifying the engine lag and the surge margin reduction which are results of the heat exchanger addition. An oil and gas (OAG) mission of a twin engine medium helicopter has been used for assessing the parallel hybrid configuration. The thermoelectric system brings a certain level of flexibility allowing for better engine utilization, thus first a hybrid configuration based on simple cycle gas turbine scaled down from the baseline engine is assessed in terms of performance and weight. Following the recuperated engine, thermoelectric power plant is assessed and the performance enhancement is compared against the simple cycle conventional and hybrid configurations. The results indicate that a recuperated gas turbine based thermo-electric power plant may provide significant fuel economy despite the increased weight. At the same time, the electric power train can be used to compensate for the reduced specific power and potentially for the throttle response change due to the heat exchanger addition.