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HUPX: The major players already agreed to participate

HUPX and its partners – the EPEX Spot and the European Commodity Clearing AG (ECC) – are making great effort towards the timely launch of the organized Hungarian electricity market in July. The major market players, MVM, GDF, RWE, EDF, CEZ and eight other companies already have the intention to participate.

“The Hungarian Energy Office is acting according to the related law, and so does HUPX," CEO Zoltán Medveczki commented. "Currently it is only HUPX Zrt that is entitled to operate organized electricity market in Hungary by having a license from the Regulator. Our operation is transparent; all services offered by us are legally rightful, secure and cost-efficient. Based on our experience this is the package that meets the needs of the market participants. The price level of our services – correlated to the value for money – is propitious. And for those being present on other markets of the ECC, it also offers further quantifiable benefits.”

To the questions on whether HUPX will start with handicap, and if it has any fear of rivals the CEO said: „The day-ahead trading – mentioned in the case debated by HEO – is principally labeled by its turnover, which is basically up to the market participants. According to data available on the Internet the first – and so far the only – active trading day the total volume was a mere 162 Megawatt-hours. This is 0,15% of Hungary’s electricity consumption of the same day. Market participants choose the platforms on their own discretion and also based on business rationality, which is mainly driven by trust. We are doing our best to keep this trust. Beyond all that HUPX, in possession of the organized electricity market license, can play a significant role in the integration of the European markets in the future. The first step of this could be market coupling carried out on one of the borders. Accordingly the organized Hungarian electricity market will be able to facilitate the development of the unified European market in the region. Our agreement with the strongest power exchange interest group, EPEX Spot and our recent admission to EuroPEX, the Association of European Power Exchanges shows that HUPX is already considered as a significant factor of this branch.”

At the same time with the ongoing roadshow the development of the new website of HUPX came to a final stage. Its public test period will start at the end of May. (BBJ Online)