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Hungary power exchange trades at record volume

Hungary’s power exchange (HUPX) traded a record 15,494.5 MWh on July 1, well over the average daily trade of 10,500 MWh in June, HUPX Communications Director Krisztina Iványi said on Friday.

The record was a result of new energy regulations that took effect on July 1, according to which 92 combined-cycle power plants with a capacity less than 50 MW of electricity can only sell power to grid operator Mavir as parts of a closed circuit. Mavir then sells the power on HUPX.

The regulation replaces an earlier one under which Mavir had an obligation to buy electricity produced by combined-cycle plants, and at a higher price. The latter subsidy, payable directly to the producer, was replaced by a new fee component – of HUF 1.2 per kilowatt hour – put in the consumer price of electricity.

The 92 power plants account for 4% of the Hungarian electricity output.