Hungary: MAVIR entered HUPX intraday market

, SEE Energy News

Hungarian power exchange HUPX announced that the national electricity transmission system operator MAVIR has been trading on its intraday market since 30 June.

According to the regulations in force, the generators of the obligatory offtake regime balance circle forecast their day-ahead generation with 15 minutes schedule. MAVIR cumulates these 15 minutes generator schedules and averages into one hour blocks and sells them on the HUPX dayahead market.

The generator and domestic trade schedules significantly vary from each other by quarters. Assuming that the obligatory offtake regime generators keep their schedules on time, the above mentioned difference results imbalance energy and expenses. The trading of these open positions through the 15 minutes product on HUPX intraday market obviously increases the effectiveness of the obligatory offtake regime system. The successful trading leads to cost reduction of imbalance energy and therefore causes cost decrease on the side of obligatory offtake regime consumers as well. MAVIR trading also contributes to the growing volume and liquidity of the HUPX Intraday market.

The HUPX launched its Intraday market on 9 March 2016, providing the possibility of trading intraday hourly blocks as well as 15 minutes products. The market started its first trading day with 24 members, which number has recently grown to 30 members along with liquidity.