During the second auction of energy credits, 68,000 gigajoules (GJ) of certified energy savings were sold in Hungary in the amount of 860 million Hungarian forints (approximately 2,2 million euros) on 14 May 2024, which is more than five times the amount that was purchased during the first public sale in February 2024, when a solid 13,000 GJ of energy savings had already changed hands at the energy stock exchange, the Hungarian Ministry of Energy announced in a statement on 17 May.
Since the first auction, the number of participating members of the stock exchange increased by more than 150 per cent to 37 institutional members and the first individual member also joined the energy market bourse. This growing interest proves the importance of energy efficiency obligation measures: the certified energy savings stock market offers the opportunity to buy and sell certified energy savings and directly encourages domestic energy efficiency improvements.
Launched in early 2021, the Hungarian Energy Efficiency Obligation (EEO) Scheme has encouraged the creation of market-based energy savings through energy suppliers and traders selling electricity, gas and fuel.
Until today, EEOS has facilitated the implementation of more than 4,800 individual measures, while the amount of total energy savings achieved through EEOS soared above 7 million GJ, exceeding all earlier government, business and market expectations.
Realised by raising the energy efficiency awareness of residential and individual consumers and through their household energy investments, energy savings must be certified by a competent audit organisation registered with the Hungarian Energy and Public Utility Regulatory Authority (MEKH).
Certified energy savings can be sold on the secondary market as a limited tradable property right. By purchasing it, the buyer supports energy efficiency projects and can redeem his EEOs.