Hydrogen exchange HyXchange publishes price indicator for hydrogen spot market
HyXchange is the hydrogen exchange initiative. It publishes the first version of a variable price indicator for hydrogen, based on the times with the lowest electricity prices and a high share of sustainable electricity. The indicator is a tool for estimating the variable production costs for green hydrogen in the Netherlands.
Green hydrogen is made from sustainably generated electricity. The sustainable price indicator called HYCLICX links the variable price component of hydrogen to the spot market for hourly electricity prices. By selecting the lowest set of variable hourly electricity prices, which in the Netherlands usually occur in two blocks per day, hydrogen can be produced at the lowest possible price. These times largely coincide with a high share of sustainable electricity from wind and solar.
HyXchange also wants to develop a price index for imported hydrogen carriers. The HYCLICX methodology, currently calculated for the Netherlands, can also be applied in other countries with transparent hourly electricity prices.
The HYCLICX indicator was inspired from HyXchange’s simulation project for the future hydrogen spot market, the first of its kind worldwide. A total of 25 market parties participated in the simulation meetings. The simulation for the hydrogen spot market is the first of its kind in the world. It simulates the daily price on the planned nationwide hydrogen network in the Netherlands, including cross-border exchanges with Belgium and Germany. The final report of the project is expected to be released after the summer.