HUPX

Energy Business Motion

HUPX DAM Product specification

General Information
Trading procedure Daily Auction
Trading days Year-round
Underlying Electrical power transiting over the Hungarian Transmission System  managed by MAVIR Ltd. (the Hungarian TSO), which defines the voltage, frequency, cosine φ (displacement factor) and cut-off frequencies, in compliance with the regulations of the Grid Code of the Hungarian Electricity System.
Delivery Delivery at any injection or withdrawal point on the Hungarian Transmission System.
Tradable Contracts (Expiries)

1 hour of the day

Hour 01: the period between midnight and 1:00 am

Hour 02: the period between 1:00 am and 2:00 am, and so on and so forth

Hour 24: the period between 11:00 pm and midnight
Order Book opening 24 hrs per day starting forty-five days preceding the Delivery Day
Order Book closes Daily at 11:00 am
Publication time As soon as possible from 11:40 am
Second Auction

As soon as possible after Order Book closure / Second Auction Publication time: as soon as possible after the Second Auction closure

Second auction is triggered if one of the following cases happens during the price calculation for at least one hour:

  1. there is not any intersection of the market supply curve and the market demand curve
            2.the market price exceeds the threshold value: lower than -150 €/MWh or higher than 500 €/MWh
Clearing and Settlement Trade information transmitted by HUPX to the Central Counterparty, ECC AG for Settlement and Delivery of the Contracts
Delivery procedure Nomination by HUPX (together with ECC) and by the Balance Group Responsible of the HUPX Member to the TSO (MAVIR Ltd.) on the basis of the regulations of the Commercial Code of the Hungarian Electricity System
Minimum and maximum prices -500.0 €/MWh / 3000.0 €/MWh
Admissible Orders

Instruments eligible for trading will be all 24* individual hours of the delivery day, which shall be the day immediately following the day of trading.

* Exceptions: 23 hours are listed on the day of change to summertime (March), 25 hours are listed on the day of change to wintertime (October).
Price characteristics In euro per MWh with one decimal digit price tick
Quantity characteristics in MW with one decimal digit
Single Hours Orders
Minimum and Maximum numbers of price/quantity combinations for Single-Contracts orders 2 and 256
General Information
Definition Order on one or several combined Expiries with a minimum of one Expiry of the same Delivery Day. Expiries depend on each other in their execution. Pre-defined block orders exist but HUPX Members are not restricted in the determination of the Block Orders.
Pre-defined block orders

The following Block Orders are pre-defined in the system:

  • Block Baseload covering hours 1 to 24
  • Block Off-peak 1 covering hours 1 to 8 and 21 to 24
  • Block Peakload covering hours 9 to 20
Additionally, user defined Block Orders may be determined consisting of both continuous and discontinuous blocks.
Specific conditions
  • All-or None
  • The maximum number of Block Orders per Delivery Day and per portfolio that can be entered by the HUPX Members shall be set out in a Market Notice
  • The maximum volume for a Block Order shall be set out in a Market Notice
  • Rules for submitting and nature of Conditional Block Orders shall be set out in a Market Notice