As an important part of the energy market liberalization in Hungary, the national TSO MAVIR has established the Hungarian Power Exchange, Company Limited by Shares, as it subsidiary in 2010. HUPX Ltd. is the operator of the organized Hungarian spot power market with leading position in Central and Eastern Europe. HUPX is licenced as a NEMO (Nominated Electricity Market Operator) by the National Regulatory Authority of Hungary (MEKH). 

HUPX operating as Hungary’s power exchange for 15 years, steadily increased its number of members and markets in the last years, thereby enhancing its regional role, market liquidity, and transparency.  

In 2024, HUPX reached a significant milestone, strengthening its position in the region like never before. By integrating into ADEX Group and joining forces with the Slovenian BSP South Pool and Serbian SEEPEX power exchanges, the leading power trading hub in the Central Eastern and South Eastern Europe was established.   

Headquartered in Budapest, ADEX Group is now the sole shareholder of BSP, HUPX, and SEEPEX. This structure aims to streamline trading and clearing services while improving customer experience as the integration process unfolds.   

ADEX is committed to further advancing pan-European market coupling in the region, supporting the energy market transition. Through collaboration with its associated companies – ELES, EPEX SPOT, EMS, and MAVIR – ADEX aims to reduce market fragmentation and strengthen the region’s energy network.