With double revolving fields theory and frame transformation both α-β axis nd d-q axis, this paper presents a new equivalent circuit for a single-phase reluctance motor in steady state and discusses various negative sequence circuits. Since there is a new rotor structure with a magnetic bridge, a magnetic barrier and a special rotor magnetic circuit, the variance of two-axis parameters xd, xq with load is considered emphatically while analyzing steady state performance. Since each phase parameter on the rotor is not equivalent, this paper presents a method for calculating equivalently concentrated two-axis parameters x2d, x2q, r2d, r2q. The theoretical results presented have been confirmed by experimental work on tested sample machines. The method for studying steady state performance can be generally adapted to any single-phase reluctance motor for all types of rotors.