Control performance and cost optimization can be
conflicting goals in the management of industrial processes.
Even when optimal or optimization-based control synthesis tools are applied, the economic cost associated with plant operation is often only optimized according to static criteria that pick,
among all feasible steady states, those with minimal cost. In mathematical terms an economic cost functional differs from stage costs commonly adopted in MPC as it need not be minimal
at its best equilibrium.
This note collects and illustrates some recent advances in receding horizon optimization of nonlinear systems that allow the control designer to simultaneously and dynamically optimize transient and steady-state economic performance.
In particular, we show that average performance of economic MPC is never worse than the optimal steady-state operation. We introduce a dissipation inequality and supply function that extend previous sufficient conditions for asymptotic stability of economic MPC. Dissipativity is also shown to be a sufficient condition for concluding that steady-state operation is optimal. We show how to modify an economic cost function so that steady-state operation is asymptotically stable when that feature is deemed desirable. Finally, for the case when steady-state operation is not optimal, we develop two modified MPC controllers that
asymptotically guarantee (i) improved performance compared to optimal periodic control and (ii) satisfaction of constraints on average values of states and inputs.