BUDAPEST, January 14. /TASS/. The joint exchange of Hungary, Serbia and Slovenia for electricity trading in Central Europe will start its operations in the first half of this year, Hungary’s Foreign Minister Peter Szijjarto said.

"Slovenian, Serbian and Hungarian corporate and technical decisions were made, and the joint electric power exchange of the three countries can start working in the first half of this year, which will significantly improve energy security of the entire region," the minister said.

"Energy security has become one of the most serious problems in Europe," Szijjarto noted. "Close energy cooperation among the countries has probably never been so important. This is particularly pressing for Central Europe where there are no major oil and gas fields. Therefore, interdependence of countries is even greater there. This is an excellent piece of news that we are as close as never before to creation of the largest integrated electricity exchange in Central Europe," Szijjarto wrote on his page in Facebook (prohibited in Russia due to its ownership by Meta, which has been designated as extremist).

Hungary is importing about 25% of consumed electricity. Main exporters to Hungary are Austria, Serbia, Slovakia, and Croatia.