competition and entry in the gb electricity retail market.pdf - Frontier ...

Figure 2. Longer dated GB liquidity
Source: Ofgem
January 2011 | Frontier Economics 15
Ofgem’s analysis also indicates that there is a higher proportion of peak products
traded along the forward curve in the German electricity market than in GB, with
a greater proportion of products being traded both one year and two years ahead
of delivery.
Some metrics indicate that the situation has been improving over time. The
aggregate churn in the market has, as shown in Figure 1, been increasing over
time. Similarly, the proportion of traded volume for longer term peak products
has been increasing as shown in Figure 3.
Barriers to entry