OpΕnergy: An Intelligent System for Monitoring EU Energy Strategy Using EU Open Data

Abstract

In this paper, the basic structure of an ICT platform of energy indicators, Openergy, is analytically presented, leveraging energy open data to help address the energy crisis more democratically. More specifically, its applicability as a dynamic tool for the management of climate, environmental, and socioeconomic information is described, and its efficiency in helping uncover insights for optimal data-driven decisions is depicted. Openergy uses data from the official portal for European data and the Eurostat site. Its database consists of data related to six energy categories, EU 2020 energy targets, energy balance, electricity production, transport fuels, heat production, and gas emissions, and each one includes its own indicators for EU countries. The platform includes visualizations of these data as well as time series modeling and forecasting, and the results are depicted at Openergy platform. The time series modeling provides forecasts with confidence intervals of each indicator until 2020 in each energy category. Empirical validation, RMSE, and MAE values showed that in almost all cases and estimations, the predicted values are in very good agreement with the observed values.