On 2017-2018 hourly ENTSO-E data, the first four principal components capture 75% of import/export variation and 54% of cross-border flow variation, led by a France-Germany dipole.
The Flow-Based Market Coupling in Central Western Europe: Concepts and definitions,
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Principal Cross-Border Flow Patterns in the European Electricity Markets
On 2017-2018 hourly ENTSO-E data, the first four principal components capture 75% of import/export variation and 54% of cross-border flow variation, led by a France-Germany dipole.