Hungary, The first pan-European GO market launched by HUPX

03.Oct 2022.

On 20 September, Hungarian energy exchange HUPX organized the first guarantees of origin auction in Europe, where all market participants active in any AIB member have the opportunity to sell GOs.

HUPX launched Hungary’s first organized guarantee of origin market in June. The primary role of the new organized and transparent marketplace is to complement the already existing bilateral transactions in Hungary and to provide proper price signals regarding guarantees of origins, which will support the development of the Hungarian power market and the integration of renewables.

During auctions held in June, the nominated buyer of Hungarian FiT production, MAVIR was the sole seller on the supply side, while 20 buyers were standing on the demand side of the market.

As of the auction held on 20 September the supply side has been extended, which means that all members (currently 27) have the option to sell their GOs on HUPX‟s marketplace. With the multiple seller model development, HUPX created the pan-European trading opportunity of guarantees of origin for the first time on the continent. The range of available technologies includes volumes produced from solar and wind power plants, as well as biogas, geothermal energy, hydropower, landfill gas and waste.