Hungary: CEO of HUPX resigned after four years

, SEE Energy News

Besides the CEO position at Hungarian Power Exchange – HUPX, Peter Toth fulfilled the role of Chairman of the Supervisory Board of CEEGEX Central Eastern European Gas Exchange Ltd., a subsidiary of HUPX that operates the organized spot natural gas market in Hungary. In addition, he acted as Chairman of the Board of HUDEX Hungarian Derivative Energy Exchange Ltd, also a subsidiary of HUPX that operates derivative power and gas markets under regulated market license.

After almost four successful years, CEO of the HUPX Peter Toth resigned. Gyorgy Istvanffy, Head of Market Development at HUPX, is taking over as Acting CEO.

Under his leadership, both group-level revenue and EBITDA data doubled, several major projects have been successfully implemented and HUPX Group reached numerous important milestones, such as the foundation of the Hungarian financial market for derivative energy products (HUDEX) in 2017, joining the European Single Intraday Coupling (SIDC) project in 2019. Furthermore, CEEGEX became a significant gas market in the CEE region, while HUPX DAM index reinforced its role as the key reference for the energy trading community of SEE countries.