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Cross-border trading: Yggdrasil is ready for the Hungarian power market

Hungary has electricity interconnection with six of its seven neighbouring countries, and with a licence to trade on HUPX, Yggdrasil is ready to expand the cross-border trading activities in the region.

The Hungarian power market is a natural step in Yggdrasil’s trading strategy because the power trading company is already active in some of the countries interconnected to Hungary.

Pernille Mortensen has been responsible for the initial work with HUPX getting all the formality in place. The Hungarian power market is similar to our other European markets and thus, adapting to the Hungarian market has been uncomplicated. Especially because of the HUPX team.

– The process of becoming a market participant of HUPX has been transparent, and we had a smooth dialogue and cooperation with HUPX about requirements for market participants as well as how to gain access to required data. Now, we are ready to start trading, and we are looking forward to trading our first MWh in Hungary. We expect the Hungarian power market to be at the same level as our other European markets within a few months”, explains Pernille Mortensen, Partner at Yggdrasil.

Facts about Yggdrasil

  • Power trading in 30 markets on 3 continents.
  • Total EBT of 148 million DKK (2021-2022).
  • External investor share of 15%.
  • The company has 28 fulltime employees.
  • Founded by Søren Agersbæk Jensen and Søren Bondo Andersen in 2018.