ENERGO: Hungary, Serbia and Slovenia to launch regional electricity exchange

Hungary, Serbia and Slovenia will start operating a joint regional electricity exchange in 2024, the Hungarian energy ministry announced in a statement on December 7. The regional integration will strengthen Hungary's energy independence, improve the regional security of supply and ensure competitive prices.

Since 2010, the Hungarian Power Exchange (HUPX) on which transactions equal to 60-70% of domestic consumption are brokered, has become the leading commodity exchange in the region, with a strong presence in Central and Eastern Europe and the Northern Balkans region.

The Hungarian electricity exchange is operated by HUPX, a subsidiary of grid operator Mavir. The Energy Ministry was given the mandate to set up a Budapest-based holding company by the end of 2024.

The company will be jointly owned by the Hungarian, Serbian, and Slovenian electricity system operators and European power exchange EPEX SPOT, which will provide the technology for the new bourse.