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HUPX expects to trade 12.5% of Hungary's electricity consumption in 2011

The Hungarian Power Exchange (HUPX) is expecting to trade 5 terawatt hours in 2011, about 12.5% of Hungary's electricity consumption, HUPX CEO Zoltán Medveczki announced.

Trade volume on the bourse reached 418,293.2 MWh, or about 2.5% of national consumption in 2010, Medveczki said. HUPX closed 2010 with losses of HUF 86 million, well down from expected losses of HUF 194 million.

Turnover rose 46% from December to 166,000 MWh in January.

Hungarian grid operator Mavir recovers about 25% of its grid loss from trading the bourse, saving HUF 106 million.

Medveczki said prices have been generally balanced on a regional level, and HUPX prices has adjusted more than 90% to prices on the German market.

HUPX is currently in talks with partners in Slovakia, Romania and Austria to link up markets in the region.

Medveczki said about 30% of national consumption is traded at developed electricity bourses. A turnover like that could make HUPX profitable which can happen within 3-4 years, the CEO added.