Comparative Energy Information Analytics of Five European Economies

Real GDP per capita and energy consumption are often, but not always, correlated variables. Comparative analysis of their respective time series offers new insights and information and new decision-making metrics. During the Great Recession, Greece faced a sudden and dramatic decline in GDP and a prolonged debt crisis fueled by structural issues and severe austerity measures. While all other European economies rebound and experienced GDP growth Greece continued to decline. Energy consumption, however, declined across Europe regardless of GDP growth. Using comparative information analytics, trends are identified, underlying factors unfolded and conclusions are drawn on the energy behavior of Greece's economy as well as those of Germany, Italy, France and Bulgaria. © 2020 IEEE

Intelligent Data Analytics from the Energy Economics of the Greek Debt Crisis

Intelligent tools are brought to bear on the analysis of energy data from Greece in the period 2010-20. During this period a paradoxical phenomenon is observed namely, an increase in energy productivity in the midst of unprecedented economic decline as measured by Gross Domestic Product (GDP). Preliminary results identify improvements in the overall efficiency of capital due to the collapse in demand following draconian austerity measures. Background, directions and trends are analyzed, policy alternatives examined, and, a new measure of energy utilization with possible real-time applications is proposed. © 2020 IEEE