Smart metering platform as a solution for data analysis

Smart metering is one of the main objectives for the EU member states to ensure the benefit of consumers on the long term. Due to its functionality, smart meters have a wide applicability in: power quality monitoring, energy savings, data awareness and fraud detection. With long-term cost benefits of the smart meters, it is expected that 72% of European consumers will have a smart meter for electricity and 40% for gas by the year 2020. The successful roll-out is depended on each state regulation, interoperability, security and data privacy. In this paper, we reveal the potential of an open source smart metering solution based on an SMX (Smart Meter eXtention) platform, as a low-cost solution for data storage, processing and data analysis.