Major Players Agree to Join HUPX, Hungarian Power Exchange

HUPX and its partners – the EPEX Spot and the European Commodity Clearing AG (ECC) – are about to launch the organized Hungarian electricity market in July.

"Currently it is only HUPX Zrt which is entitled to operate an organized electricity market in Hungary by having acquired a license from the Regulator. Our operation is transparent; all services offered by us are legal, secure and cost-efficient. Based on our experience, this is the package that meets the needs of the market players,” said HUPX CEO, Zoltan Medveczki.
The major market players, MVM, GDF, RWE, EDF, CEZ and eight other companies have already expressed their intention to join, among them the German energy giant, E.ON Ruhrgas. The HUPX CEO said he expects at least 15–20 members at the exchange, although he hopes this number could reach 30. Experts were concerned that there would be too few operators at the exchange, and not enough liquidity to form realistic prices determining the market outside the exchange.
The new HUPX website has also come to a final stage. Its public testing will start at the end of May.

News Monitoring