In February 2018, the Hungarian Power Exchange (HUPX) and the Serbian South East European Power Exchange (SEEPEX), the Hungarian transmission system operator MAVIR, the Serbian transmission system operator EMS, as well as the European Power Exchange EPEX SPOT signed a Memorandum of Understanding (the “MOU”) to establish a cross-regional power exchange in the Central and Southeastern European region.

The MOU foresees a merger between the HUPX and SEEPEX spot power businesses, while maintaining a link to EPEX SPOT, in order to create a strong cross-regional exchange. The base of new exchange would be in Budapest and Belgrade and the operation of a day-ahead market would be serviced by EPEX SPOT.

SEEPEX is the first non-EU power exchange in Southeastern Europe, performing its activities in line with EU best practices and its merger with the Hungarian market operator HUPX represents a big step towards integration of the South Eastern European region with the Integral Electricity Market.

The project is open for new partners who are interested to join a merger of spot power markets in Central and Southeastern Europe and the timeline of the launch is to be announced.