Hungary, Serbia and Slovenia will operate a joint regional power exchange from 2024, the Ministry of Energy has announced.
Since its launch in 2010, the Hungarian power exchange HUPX has become the leading power exchange in the region. Budapest virtually sets the benchmark prices for Central Eastern Europe and the Northern Balkans. By joining forces, the three neighboring countries are improving the efficiency and profitability of trading.
HUPX Zrt., the operator of the Hungarian Power Exchange, is a subsidiary of the transmission system operator Mavir Zrt. The volume of electricity traded on the exchange covers 60-70% of domestic demand. The regionalization is a strategic repositioning in response to EU regulatory plans and expected market consolidation. In this context, EPEX SPOT will be launched by the transmission system operators of Hungary, Serbia and Slovenia by the end of 2024 at the latest.