Hungarian electricity exchange HUPX recorded a sharp increase in September day-ahead electricity prices, while traded volumes declined from August but remained above year-earlier levels. The rise in prices increased wholesale procurement costs as the market entered the final quarter of the year.
The monthly day-ahead baseload average reached €178.73/MWh, up 17.5% from €152.17/MWh in August. The peak-load average also increased, rising 17.2% to €144.31/MWh.
Day-ahead trading volume totalled approximately 2.47 TWh, down from 2.92 TWh in August but still above the 2.21 TWh recorded in September 2025. The figures indicate that market activity remained relatively strong despite the month-on-month decline in traded electricity.
Intraday continuous trading reached 1.261 TWh, representing a 3.4% decrease compared with August. During September, HUPX had 132 registered members on the day-ahead market and 130 members participating in intraday continuous trading.
The difference between baseload and peak-load prices was also significant. Peak-load electricity was €34.42/MWh cheaper than baseload, highlighting the importance of consumption timing when assessing electricity procurement costs. A monthly baseload benchmark may not accurately reflect the price paid by industrial consumers whose demand is concentrated in specific hours.
The same distinction is relevant for generators, as electricity production concentrated during lower-priced periods can result in realised revenues below the headline market average.
September’s higher monthly benchmark increased the cost base heading into October. By 9 October, the Hungarian day-ahead average had reached €269.43/MWh, demonstrating how quickly short-term supply pressures can push electricity prices above an already elevated monthly average.
