The Hungarian Energy and Utilities Regulatory Authority (MEKH) has granted the Electricity Trading License for EFSA, Electrica’s supply subsidiary, the company announced in a press release sent to the Bucharest Stock Exchange.

“The licence will allow EFSA to register and trade electricity in Hungary on the wholesale market, including the derivatives market, with operations to be carried out from EFSA’s headquarters,” writes the release.

The announcement confirms the Electrica Group’s strategy of expanding operations in the region’s markets “to ensure a balance between long-term value creation and maximising shareholder returns”.

The Electrica Group already has a branch in the Republic of Moldova, but the pandemic has blocked a significant part of the development plans. However, the Electrica Group will become much more active regionally, with trading offices in Hungary and Bulgaria soon to open, said Corina Popescu, CEO of the Electrica Group, within the event Regional approach: Chisinau 2021, organized by Energynomics.