György Istvánffy represented HUPX at the Hungarian Energy Investors Forum 2020
Mr. György Istvánffy, Head of Market Development at HUPX Ltd. participated in a panel discussion at the Hungarian Energy Investors Forum 2020 organized by Napi.hu and Lounge Communication on 16th September, 2020.
The first presentation of the event was delivered by Mr. András Biczók, CEO of MAVIR, parent company of HUPX, with the title “Grid development and energy revolution - how has the infrastructure developed and what had to be re-evaluated based on the experiences of the recent period?”
In January, the government completed its new energy strategy, which has ever since been partially and temporarily rewritten by the domestic and Europe wide changes resulting from the coronavirus crisis. Due to the pandemic, the industry players have been facing stronger-than-expected changes in the energy market dynamics.
In addition to changing consumer habits, the growing need for decentralization and digitalization, the epidemic and the subsequent crisis phenomena also require unusual solutions and thinking from producers, regulators and service providers in the sector.
On the panel, titled “Trapped in the Network”, Mr. Istvánffy highlighted that HUPX earned to become a factor in security of energy supplywith its ever growing liquidity, „HUPX’s liquidity rose to such heights in the recent months that we became the most significant power exchange in the region.” He explained that HUPX proved to be well prepared for such vis major situations and most importantly the market could not experience any difference in the operation even though the company switched to completely working remotely.
Concerning the question on energy prices in Hungary, he reflected that the new Hungarian-Slovakian cross border lines are expected to have a lowering effect on the Hungarian power prices, however the multitude of different other factors may also result finally in an increased price level.