New CEO to Head The Hungarian Power Exchange from March

, SEE Energy News

From March 2013 dr. BALÁZS László will become Chief Executive Officer for HUPX ZRt., the company being responsible for operation of the organized Hungarian Power Exchange. Mr. BALÁZS, a professional with legal and economic qualifications and a recognized expert at the domestic banking sector for decades, led the Hungarian Volksbank ZRt. for more than 10 years as President and CEO.

In line with the new strategy of the Company, his particular task in his new assignment is to foster a successful development of the organized Hungarian electricity market in its forthcoming phase and to manage the establishment of HUPX Holding in order to facilitate integration of the European electricity markets.

Mr. MEDVECZKI Zoltán, the leader of the Company so far, managed the Hungarian organised electricity market since its launch in July 2010. During his assignment he introduced the Day-Ahead and Futures Products and oversaw the launch of an organized gas market. Last year he took part, as a project manager, in the Czech-Slovak-Hungarian Market Coupling Project together with leaders of the owner company, MAVIR ZRt., and the Hungarian Energy Office. As the Company and the organised electricity market is already operating safely, the CEO is looking for new challenges.