Economic optimality in MPC: A comparative study

ANTONIO FERRAMOSCA; ALEJANDRO HERNAN GONZALEZ; DANIEL LIMON

Chicago, IL

Conferencia; American Control Conference (ACC); 2015

IEEE, CSS

Model Predictive Control (MPC) is one of the most used advanced control strategy in the industries, mainly due to its capability to fulfill economic objectives, taking into account a simplified dynamic model of the plant, constraints, and stability requirements. In the last years, several economic formulations of MPC have been presented, which overcome the standard setpoint-tracking formulation. The goal of this work is to provide, by means of application to a highly nonlinear plant, a comparison of different strategies, focusing mainly on economic optimality, computational burden, and economic performance (understood as transient economic optimality).