When a double-convex lens is cut along its principal axis, the resulting two parts will each behave as a plano-convex lens. The focal length of each part will be halved, and the power is inversely proportional to the focal length. Since the focal length of each part is halved, the power of each part will be doubled.
When these two parts are combined, their powers will add up. Therefore, the total power of the combination will be:
\[
P_{\text{total}} = P + P = 2P
\]
Thus, the power of the combination is \(2P\).
Thus, the correct answer is:
\[
\boxed{2P}.
\]