The Hungarian Power Exchange (HUPX) announced on Monday (25 March) that it is joining ADEX Group, which has now become the most liquid spot power trading hub in central and southern Europe.
Established on 23 December 2022, ADEX Group is the first regional Energy Exchange for Central and South-Eastern Europe, with its founding members ELES (Slovenia), EPS (Serbia) and EPEX SPOT and two wholly owned subsidiaries: BSP and SEEPEX.
“This step fosters the energy transition and the consolidation of the fragmented markets and serves as a facilitator to rollout the pan-European Market Coupling in the future. For market participants, this means new access to a one-stop shop for trading and clearing in Slovenia, Serbia, and Hungary,” HUPX stated in a press release. “Fully optimised processes will provide current and future members the services with greater convenience and accessibility. Energy exchanges within ADEX Group, headquartered in Budapest, will bring together the expertise of multiple companies along with harmonised exchange rules, trading and clearing solutions.”
ADEX Group now becomes the sole shareholder of BSP, HUPX and SEEPEX. MAVIR, ELES, EPS, and EPEX SPOT are the shareholders of ADEX Group which is designed and open for partners to join.
BSP, HUPX and SEEPEX remain the operator of their existing markets and will continue
to hold their Power Exchange and NEMO licences in the future.
Following the approvals by the relevant authorities the go-live of the enlarged ADEX Group is expected to happen in the second half of 2024, HUPX said.