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The Hungarian Power Exchange, HUPX, is joining Adex, the regional power exchange for Central Eastern Europe (CEE) and South Eastern Europe (SEE). It will strengthen and extend the platform’s scope, operator Adex Group said.
Adex Group Ltd., the first regional energy exchange for Central and South-Eastern Europe (CSEE), was established on December 23, 2022, in Ljubljana. Its founding members are transmission system operators of Slovenia and Serbia – ELES and Elektromreža Srbije (EMS), respectively, EPEX SPOT and the two TSOs’ wholly-owned subsidiaries BSP and SEEPEX, operators of Slovenian and Serbian power exchanges.
Following approvals by relevant authorities, the go-live of the enlarged group is expected in the second half of 2024, Adex said.
Adex Group headquarters will relocate from Ljubljana to Budapest in the second half of 2024 as HUPX becomes its third fully-owned subsidiary.
Adex Group is becoming the most liquid spot power trading hub in the area
Over 60 members trade electricity at BSP and SEEPEX spot markets. The trading volume at Adex Group’s markets for the year 2023 amounted to 16.3 TWh.
Adex Group said it is becoming the most liquid spot power trading hub in the area. The move fosters the energy transition and the consolidation of fragmented markets and serves as a facilitator to the future rollout of the pan-European market coupling, the company added.
For market participants it means access to a one-stop shop for trading and clearing in Slovenia, Serbia, and Hungary, the announcement reads. Fully optimized processes will provide current and future members with services with greater convenience and accessibility, the operator claimed.
Adex Group is designed and open for other partners to join
According to the press release, energy exchanges within Adex Group, headquartered in Budapest, will bring together the expertise of multiple companies along with harmonized exchange rules, trading and clearing solutions.
As a result, Adex Group is becoming the sole shareholder of BSP, HUPX and SEEPEX.
Now the shareholders of Adex Group are the TSOs of Hungary, Slovenia, and Serbia – MAVIR, ELES and EMS, respectively, and EPEX SPOT. The company pointed out it is open for other partners to join, Adex stressed.
Power exchanges BSP, HUPX and SEEPEX remain the operators of their respective markets and they will continue to hold their power exchange and nominated electricity market operator (NEMO) licenses, the firm stressed.
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