The predecessor of the Hungarian Energy Traders' Association, the Federation of Hungarian Electricity Traders, was founded in December 2003, after the opening of the electricity market, by eight electricity traders in order to ensure that the professional interests of the Hungarian electricity trading companies were represented. As well as electricity traders, natural gas trading licensees could also join the renewed Association, which in March 2012 was renamed the Hungarian Energy Tarders’ Association.

The primary objective of the Association is to represent the professional interests of the companies engaged in electricity and natural gas trading in Hungary and holding an electricity and natural gas trading licence, to support the domestic improvement of electricity and natural gas trade and the development of an effectively operating and transparent market, simultaneously complying with European Union regulations regarding the formation of the electricity and natural gas internal market furthermore establishment of a strategic cooperation and the performance of regular professional consultation with the European Union regulatory authorities, professional and trading organisations.