EEX bourse to present green hydrogen index from Wednesday

European Energy Exchange AG

23/05/2023 12:24

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      Index will be freely available weekly with eur/MWh
    

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      To describe real European location trades
    

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      To scale up the green gas market, complementing green
power
    

  
    By Vera Eckert
       ESSEN, Germany, May 23 (Reuters) - European energy
bourse EEX will publish a green hydrogen index, called HYDRIX,
from Wednesday, scaling up price discovery in future markets for
renewable energy, its chief executive Peter Reitz said on
Tuesday.
    "Hydrix will unveil information about actually traded prices
for green hydrogen, produced with electricity from renewable
energy sources," Reitz said in an interview during the annual
E-World trade fair, where the announcement was made.
    "Clear price signals are the basis for the market ramp-up
and further investments in the hydrogen economy." 
    Germany and other EU countries are seeking to produce and
import hydrogen as part of the bloc's efforts to shift to a
lower carbon economy. 
    Provided it comes from renewables - unlike "grey hydrogen"
used by industrial processes from gas - hydrogen can become a
storage medium to complement future green power production,
which Germany wants to supply 80% of electricity by 2030.
    EEX, a subsidiary of Deutsche Boerse  DB1Gn.DE , is
continental Europe's leading electricity and natural gas
exchange.
    It is tying big producers and consumers to its platforms 
and clearing functions in maturities that in power extend up to
10 years.
    It also trades emission allowances, freight and agricultural
products, among others.
    The index will be publicly available on the EEX transparency
platform each week, expressed in euros per megawatt hour (MWh).
    Initial, "critical mass" contributors were recruited from a
working group of more than 100 companies that helped develop the
EEX hydrogen product design, and it hoped to draw on
successively more.
    "We have built-in security measures to prevent the index
from being manipulated," Reitz also said.
    The MWh metric is comparable with other EEX products and
intended to help build an intersection to EEX
guarantee-of-origin products that certify the renewable
qualities of power and hydrogen.

 (Reporting by Vera Eckert, editing by John Stonestreet)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))