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Hungarian Power Exchange
Hupx logo.jpg
Founded 2010
Headquarters Budapest
Key People Mátyás Vajta, CEO
LinkedIn Profile
Releases Company News

HUPX (Hungarian Power Exchange) or HUPX Magyar Szervezett Villamosenergia-piac Zártkörűen Működő Részvénytársaság is the day-ahead power market in Hungary, launched in July 2010 as part of the liberalization of the Hungarian energy sector. It operates as an organized electricity market, providing a platform for trading various energy products.

Markets and Products[edit]

HUPX offers several key markets and products:

  • Intraday Market: Enables members to trade 15-minute intraday products, allowing market players to optimize power generation closer to delivery time and manage forecast errors or unforeseen power plant outages.
  • Day-Ahead Market: The primary market of HUPX, facilitating trading for the following day's electricity needs.
  • Physical Futures Market: Offers weekly, monthly, quarterly, and yearly baseload/peakload contracts. This market has seen significant growth, with traded volumes increasing from 3,627.3 GWh in 2014 to 6,485.6 GWh in 2015.

Market Coupling[edit]

HUPX participates in the 4M Market Coupling (4M MC), an ATC-based day-ahead implicit allocation process involving the Czech Republic, Slovakia, Hungary, and Romania. This coupling, implemented on November 19, 2014, aims to maximize energy flow between low and high-price areas while considering available cross-border capacity. The primary objectives of this market coupling include:

  • Deeper integration of regional power markets
  • Increased security of supply
  • Moderation of price volatility
  • More effective power sale and purchase


HUPX membership is regulated by the Hungarian Electric Energy Act, which defines six types of entities eligible for membership:

  • Electricity traders
  • Universal service providers
  • Consumers
  • Producers
  • Transmission system operators
  • Distribution system operators

Each category requires specific permits issued by the Hungarian Energy Office to qualify for HUPX membership.

Key People[edit]