In this paper we consider periodic optimal operation of constrained periodic linear systems. We propose an economic model predictive controller based on a single layer that unites dynamic real time optimization and control. The proposed controller guarantees closed-loop convergence to the optimal periodic trajectory that minimizes the average operation cost for a given economic criterion. A priori calculation of the optimal trajectory is not required and if the economic cost function is changed, recursive feasibility and convergence to the new periodic optimal trajectory is guaranteed. The results are demonstrated with two simulation examples, a four tank system, and a simplified model of a section of Barcelona's water distribution network. (C) 2014 Elsevier Ltd. All rights reserved.