An illiquid electricity or gas market is characterised by more than one of the following: there is no exchange-based spot trading and very few standardised OTC trading contracts; the market is only partially open to competition and network access is possible, but limited; the availability of market data is very limited.
Regulation
Either there is no regulator in place or a competition authority has only few competences.
Choice of supplier
At most large power and gas consumers are eligible for choosing their supplier.
Network access
Network access is either impossible or complicated to negotiate.
Competition
The biggest participant has a market share of over 75%.
Trading
No spot market, or a spot market with very little liquidity (less than 15% of demand) and few market participants (fewer than 30); publication of market prices is very limited or non-existent.
Market information
There is access to market data for only a small circle or from very few sources.
Market entry
Very high entry barrier, making it almost impossible to establish competition. Monopoly conditions.
