Hungary to join Slovenian-Serbian power exchange ADEX in few weeks

Serbia’s Minister of Mining and Energy Dubravka Đedović Handanović spoke with Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó about joint energy projects and cooperation in the natural gas, oil and electricity sectors. They announced that Hungary would soon join the first regional electricity exchange, the Serbian-Slovenian ADEX.

Dubravka Đedović Handanović and Péter Szijjártó met in Budapest, where they participated in the Balkan Forum. Of note, the Slovenian and Serbian transmission system operators – ELES and Elektromreža Srbije (EMS) – founded the ADEX exchange in December 2022 with European company EPEX Spot.

Đedović Handanović said regional cooperation is the key to achieving energy security and pointed to Serbia and Hungary as a good example. The two countries already cooperate in natural gas supply and they intend to improve oil supply and electricity transmission.

Đedović Handanović: The two countries are jointly building the Pannonian Corridor for the transmission of electricity

In addition to domestic reserves, Serbia has 163 million cubic meters of gas stored in Hungary. Đedović Handanović discussed the dynamics of using the stored quantities, and conditions to secure supplies for the next winter, her ministry said.

Serbia and Hungary are jointly building the Pannonian Corridor, which would double the bilateral electricity transmission capacity. The investment is estimated at EUR 100 million, and the goal is to finish it in the next four years.

Szijjártó: The security of supply remains a priority for Hungary

The plan is for Hungary to join the first regional electricity exchange, which Serbia established with Slovenia, within the next several weeks, Đedović Handanović revealed. She added it makes a good foundation for a single regional electricity market and highlighted it as an example of cooperation between a European Union member state and a country in the accession process.

Péter Szijjártó thanked his counterpart for cooperation, confirming that Hungary would join the regional electricity exchange, and stressed that the security of supply remains the country’s priority.

Hungary won’t jeopardize energy security to fulfill any political and ideological wishes, he underscored.