© The Institution of Engineering and Technology
This study addresses the problem of an optimal actuator selection when economic value is considered. The objective is to minimise the economical cost of operating a given plant. The problem has been formulated using mathematic notions from economics. Functionals describing the business objectives of operating a power plant has been established. The selection of actuator configuration has been limited to the fuel system which in the considered plant consists of three different fuels – coal, gas and oil. The changes over 24 h of operation is established and a strategy for using a plant utilising the three fuels is developed which will yield a greater profit than a coal fired plant.
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http://iet.metastore.ingenta.com/content/journals/10.1049/iet-cta.2008.0613
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