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Long-term scheduling for cascaded hydro energy systems is very important for low carbon energy production. It aims at determining the water release over a planning horizon to meet water resource requirements and the system demands for electric power. The problem is challenging in view of the complicated and stochastic system dynamics, nonlinear marginal cost, coupled hydraulic constraints, and the large problem size. In this paper we formulate the long-term scheduling problem of cascaded hydro energy systems with annual consumption and release constraints as a finite horizon constrained Markov decision process (CMDP), and develop a new rollout algorithm to optimize the policies. Numerical results demonstrate the effectiveness and the efficiency of the formulation and the new algorithm.