Hungary’s HUPX power prices tick up in March 2026 as intraday trading gains momentum

Hungary’s power market showed a modest price firming in March 2026 while trading activity shifted further toward shorter time horizons. On the HUPX day-ahead market, the average electricity price reached 117.4 €/MWh, increasing 3.6% versus the prior month when the average baseload price was 113.29 €/MWh.

Day-ahead prices rise, but peak pricing softens

Alongside the higher average level, the HUPX DAM peak price averaged 103.52 €/MWh in March—15.3% lower than in February. The divergence between average and peak outcomes suggests changes in intraday demand dynamics and how load was distributed across hours.

Liquidity remains steady even as day-ahead volumes dip

Trading volume on the day-ahead market totaled 2.79 million MWh in March 2026. That figure was down 5.5% month-on-month, but still up 5.3% year-on-year compared with March 2025, when volume stood at 2.65 million MWh. The mix indicates that liquidity has held up over the longer term despite short-term fluctuations.

Intraday continuous volumes expand

The clearest operational shift came on the intraday continuous market, where total traded volume reached 1,084,927 MWh in March 2026. This represented an 11.5% increase compared with February, underscoring growing participation in short-term balancing trading.

Participation stays broad across both markets

Market participation remained solid throughout the month: HUPX reported 116 registered members on the day-ahead market and 108 members on the intraday continuous market. Together with the volume trends, this supports the view of HUPX as a key liquidity hub within Hungary’s regional power system.