A simulation model for a vertical U-tube steam condenser in which the condensate is stored at the bottom well is developed in this paper. The U-tubes carrying the coolant are partially submerged in the stored condensate and thus the bottom well acts as a heat exchanger. The storage of hydraulic and thermal energies is represented using a coupled pseudo-bond graph model. Advection effects are modelled by considering reticulated segments of the tubes carrying coolant, over which condensation takes place. The developed model is of intermediate complexity and it is intended for use in observer based real time process supervision, which works by comparing the process behaviour to the reference model outputs. The simulation results obtained from the bond graph model are validated with experimental data from a laboratory set-up.