Lyapunov‐based EMPC of constrained nonlinear systems with changing economic costs

Abstract

There exist frequent economic cost changes in many process systems due to variations in price, market demand, disturbance, etc. This change switches the economic setpoint of processes throughout their operation and may cause a loss of feasibility and/or stability in economic model predictive control (EMPC). In this paper, we present a novel Lyapunov-based EMPC scheme for optimization of changing economic costs of constrained nonlinear systems.