Hungary, Slovenia and Serbia have signed an agreement on cooperation in the field of electricity. In the second half of this year, the joint energy exchange of these three countries will start operating.
The Blue Sky project will increase the security of electricity supplies for all parties, said Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, at a joint conference with his Slovenian counterpart Bojan Kumer and Serbian Deputy Minister of Energy Veljko Kovacevic.
The first in the region
In December last year, the Slovenian national grid operator Eles and the Serbian Elektromreża Srbije founded the regional electricity exchange Adex, in cooperation with Epex Spot, the French organizer of electricity markets in 13 countries – reminds the Slovenian agency STA.
Adex, which is joined by the Hungarian energy exchange HUPX founded in 2010, was the first regional energy exchange in Central and Southeastern Europe.
Particularly important for Hungary
Szijjarto emphasized that cooperation in the field of electricity is particularly important for Hungary, which has no gas or oil resources and no access to the sea. The politician estimated that the demand for electricity would increase by 50%. in Central Europe by 2030, and Hungary will need more and more of it “due to record levels of investment.”
Hungary is still dependent on imports of Russian energy resources.
Szijjarto also recalled how important the expansion of the nuclear power plant in Paks in central Hungary is for the security of his country. This is one of the key energy projects of Viktor Orban’s government.
Hungarian-Russian nuclear project as planned
At the beginning of 2014, the construction of two new units with a capacity of 1,200 MW each was entrusted to the Russian state corporation Rosatom. The entire investment is expected to amount to approximately EUR 12 billion, of which 80 percent the costs will be covered by a Russian loan. The joint energy exchange of Hungary, Slovenia and Serbia is scheduled to start operating in the second half of the year.
Hungary and Slovenia will connect their electricity systems at the end of 2022. Construction works on the 80-kilometer 400 kV transmission line began in 2020.
From Budapest Marcin Furdyna (PAP)/bz
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