Hungary’s energy ministry announced that Hungary, Serbia and Slovenia will start operating a regional electricity market in 2024.
A Budapest-based holding company will be established for the purpose by the end of 2024 and it will be owned by the transmission system operators of Hungary, Serbia and Slovenia. European power exchange EPEX SPOT, to provide the technology for the new bourse, will also hold a stake.
The new bourse will cover the regions of Central Europe and the Northern Balkans. The ministry said the regional cooperation would boost the enterprise value of the Hungarian Power Exchange (HUPX) on which transactions affecting 60-70 per cent of domestic consumption are brokered.
According to the Ministry, in view of international developments, in particular EU regulatory plans and market consolidation, strategic progress is needed to consolidate the position of the Hungarian power exchange.