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HUPX Hungarian Power Exchange is the day-ahead power market which was launched in July 2010 as part of the liberalization of the Hungarian energy sector.
HUPX intraday market enables members to trade 15-minute intraday products on the Hungarian Power Exchange. An organized intraday market provides more opportunities for market players to reduce their need for imbalance energy, to optimize power generation closer in time to delivery and it is also appropriate for managing forecast errors or unforeseen power plant outages.
HUPX is also offering physically settled futures trading. This market provides weekly, monthly, quarterly and yearly baseload/peakload contracts. Since the fourth quarter of 2015 initiator transaction fee was reduced to 0 EUR/MWh, which contributed to a significant boost in the liquidity. The traded volumes jumped from 3 627,3 GWh in 2014 to 6 485,6 GWh in 2015. On 1 January 2016 HUPX PHF listed 31 members. In addition to the settlement of transactions concluded on the exchange, OTC transactions can be registered as well.
4M MC is an ATC-based day-ahead implicit allocation process striving on the compatibility with the EU target model while taking into account the fact that 4M solution is to be considered as an interim step before the Central Eastern European (“CEE”) regional solution. The primary target of the market coupling is to assure a deeper integration of regional power markets. The process aims at maximizing the energy flow from the low price area to the high price area by taking into account the available cross-border capacity. Consequently, price levels among the individual market areas converge. By this procedure, not only the security of supply can be increased but the price volatility on relevant power markets can be moderated and the power sale and purchase can become more effective. The Czech, Slovak, Hungarian and Romanian NRAs, TSOs and PXs jointly implemented the extension of CZ-SK-HU market coupling to Romanian day-ahead electricity market (4M MC)] on 19 November 2014 based on PCR solution. [1]
According to the prevailing regulations of the Hungarian Electric Energy Act, there are six types of entities that can become HUPX members:
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated and tightly regulated "traditional" electricity market with multiple competitive markets for electricity generation, transmission, distribution, and retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service into a tradable good. As of 2020s, the traditional markets are still common in some regions, including large parts of the United States and Canada.
Pumped-storage hydroelectricity (PSH), or pumped hydroelectric energy storage (PHES), is a type of hydroelectric energy storage used by electric power systems for load balancing. The method stores energy in the form of gravitational potential energy of water, pumped from a lower elevation reservoir to a higher elevation. Low-cost surplus off-peak electric power is typically used to run the pumps. During periods of high electrical demand, the stored water is released through turbines to produce electric power. Although the losses of the pumping process make the plant a net consumer of energy overall, the system increases revenue by selling more electricity during periods of peak demand, when electricity prices are highest. If the upper lake collects significant rainfall or is fed by a river then the plant may be a net energy producer in the manner of a traditional hydroelectric plant.
India is the third largest producer of electricity in the world. During the fiscal year (FY) 2019–20, the total electricity generation in the country was 1,598 TWh, of which 1,383.5 TWh generated by utilities. The gross electricity consumption per capita in FY2019 was 1,208 kWh.
The Electricity Act, 2003 is an Act of the Parliament of India enacted to transform the power sector in India.
Demand response is a change in the power consumption of an electric utility customer to better match the demand for power with the supply. Until the 21st century decrease in the cost of pumped storage and batteries electric energy could not be easily stored, so utilities have traditionally matched demand and supply by throttling the production rate of their power plants, taking generating units on or off line, or importing power from other utilities. There are limits to what can be achieved on the supply side, because some generating units can take a long time to come up to full power, some units may be very expensive to operate, and demand can at times be greater than the capacity of all the available power plants put together. Demand response seeks to adjust the demand for power instead of adjusting the supply.
European Energy Exchange (EEX) AG is a central European electric power and related commodities exchange located in Leipzig, Germany. It develops, operates and connects secure, liquid and transparent markets for energy and related products, including power derivative contracts, emission allowances, agricultural and freight products.
Availability Based Tariff (ABT) is a frequency based pricing mechanism applicable in India for unscheduled electric power transactions. The ABT falls under electricity market mechanisms to charge and regulate power to achieve short term and long term network stability as well as incentives and dis-incentives to grid participants against deviations in committed supplies as the case may be.
Peterborough Power Station is a 360MW gas-fired power station at Eastern Industry, Fengate in the city of Peterborough, Cambridgeshire in the United Kingdom. It employs around forty people.
Through the 1996 Electric Utilities Act the Alberta's deregulated electricity market began.
An electrical grid is an interconnected network for electricity delivery from producers to consumers. Electrical grids vary in size and can cover whole countries or continents. It consists of:
Nord Pool AS is a pan-European power exchange. Nord Pool has a main office in Oslo and further offices in Stockholm, Helsinki, Tallinn, Berlin and London. The company is owned by the European exchange operator Euronext as well as TSO Holding, which represents the continental Nordic and Baltic countries' transmission system operators. Nord Pool has two subsidiaries, Nord Pool AB and Nord Pool Finland Oy.
Elia is a Belgian transmission system operator for high-voltage electricity, located in Brussels, Belgium. It operates in Belgium and Germany. The company transmits electricity from generators to distribution system operators, which then supply SMEs and homes. Elia also has contracts with major industrial users that directly connect to its high-voltage grid.
Central Electricity Regulatory Commission (CERC), a key regulator of power sector in India, is a statutory body functioning with quasi-judicial status under sec – 76 of the Electricity Act 2003. CERC was initially constituted on 24 July 1998 under the Ministry of Power's Electricity Regulatory Commissions Act, 1998 for rationalization of electricity tariffs, transparent policies regarding subsidies, promotion of efficient and environmentally benign policies, and for matters connected Electricity Tariff regulation. CERC was instituted primarily to regulate the tariff of Power Generating companies owned or controlled by the government of India, and any other generating company which has a composite scheme for power generation and interstate transmission of energy, including tariffs of generating companies.
Russia is the fourth largest generator and consumer of electricity in the world. Its 440 power stations have a combined installed generation capacity of 220 GW.
Danske Commodities (DC) is an energy trading house. The company is an international trader of energy-related commodities such as electric power, gas and climate market products with activities in 40 countries.
The Electricity Act 1989 provided for the privatisation of the electricity supply industry in Great Britain, by replacing the Central Electricity Generating Board in England and Wales and by restructuring the South of Scotland Electricity Board and the North of Scotland Hydro-Electric Board. The Act also established a licensing regime and a regulator for the industry called the Office of Electricity Regulation (OFFER), which has since become the Office of Gas and Electricity Markets (OFGEM).
European Power ExchangeSE is an electric power exchange operating in Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Luxembourg, the Netherlands, Norway, Poland, Sweden and Switzerland.
The electricity sector of Kosovo relies on coal-fired power plants (97%) and is considered one of the sectors with the greatest potential of development. The inherited issues after the war in Kosovo and the transition period have had an immense effect on the progress of this sector.
The electricity sector in the Philippines provides electricity through power generation, transmission, and distribution to many parts of the Philippines. The Philippines is divided into three electrical grids, one each for Luzon, the Visayas and Mindanao. As of June 2016, the total installed capacity in the Philippines was 20,055 megawatts (MW), of which 14,348 MW was on the Luzon grid. As of June, 2016, the all-time peak demand on Luzon was 9,726 MW at 2:00 P.M. on May 2, 2016; on Visayas was 1,878 MW at 2:00 P.M. on May 11, 2016; and on Mindanao was 1,593 MW at 1:35 P.M. on June 8, 2016. However, about 12% of Filipinos have no access to electricity. The Philippines is also one of the countries in the world that has a fully functioning electricity market since 2006 called the Philippine Wholesale Electricity Spot Market(WESM) and is operated by an independent market operator.
The electricity sector of Armenia includes several companies engaged in electricity generation and distribution. Generation is carried out by multiple companies both state-owned and private.