How is value distributed within a day, a week, a month, a season, or a year?
I like this question because it sharpens the analysis of spot prices. The total value across the entire period is normalized to 1 (or 100%), making it possible to examine how much of the total value is represented by individual hours or intervals.
Instead of looking only at absolute prices, the focus shifts to the share of value each period contributes to the whole.
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