September 2021 global hydrogen summary

2 Min Read

Compiled 01/10/2021

In Europe, the UK, Germany, and The Netherlands moved once again broadly in tandem. Hydrogen costs rose sharply in all cases, gaining between 80-100%. Overall, the UK is slightly cheaper than Continental Europe where grey and blue hydrogen are concerned. The UK, however, is significantly more costly than The Netherlands for green hydrogen, with Germany remaining cheaper still.

In the UK especially, the spike in energy prices was extremely dramatic. Soaring demand coupled with decreasing supply resulted in unprecedented cost increases.

EUA prices rose modestly, ending the month just shy of 62 EUR per tonne. Blue hydrogen looks like the more attractive option for natural gas derived hydrogen in Europe.

In Texas, grey hydrogen rose steadily in the first half of the month, slipping a little mid-month before rising steadily again. Green hydrogen in Texas, meanwhile, exhibited moderate gains following July’s steep loss.

In California, green hydrogen costs rose slightly throughout September, showing some volatility towards the end of the month.

Halting August’s losses, the price of green hydrogen in Alberta showed a steady rise throughout September. July saw grey hydrogen end the month with little change.

Globally, the continually changing price differentials between cost benchmarks emphasises the importance of keeping a close eye on hydrogen production cost movements.

Cost assessment figures have been redacted.

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Information correct at time of writing.

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