HUPX turnover set to reach 4 TWh this year

Energy Trade

Turnover of electricity products on the Hungarian Power Exchange (HUPX) is expected to reach almost 4 TWh this year or about 10% of domestic consumption, managing director Zoltan Medveczki said at a conference on Tuesday.

HUPX, which is indirectly owned by the Hungarian Electricity Works (MVM), started trade of electricity products a year and a half ago. The bourse has committed to launching a gas exchange by the start of 2013.

HUPX’s clearing system is used even by brokers who do not trade on the exchange, which is unprecedented in Europe, Mr Medveczki said at the conference organised by IIR-Magyarorszag. Between four and five brokers active in the region are still expected to join the system, he added.

Hungary’s large gas storage capacity as well as the fact that Gazprom’s long-term contract for deliveries to Hungary expires after 2015 are both advantages for the gas exchange HUPX is setting up, Mr Medveczki said.

More Companies Take Action Against Corruption Analysis

More Companies Take Action Against Corruption

Karácsony Still Winner of Budapest Mayoral Election After Re... Elections

Karácsony Still Winner of Budapest Mayoral Election After Re...

2 Major Ground Handlers at Budapest Airport Join Forces Transport

2 Major Ground Handlers at Budapest Airport Join Forces

Summer Camp Prices Have Increased 10-15% Tourism

Summer Camp Prices Have Increased 10-15%

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.