The Strategist

EU starts work on accelerating investment in hydrogen market

06/04/2024 - 11:09

A new phase in the development of the EU hydrogen market was revealed by the European Commission on Monday. The work on a pilot mechanism has begun as part of the recently adopted package on decarbonized gases and hydrogen.

2014 - Andy Staniszewski
2014 - Andy Staniszewski
"Hydrogen is a key component of the EU's shift to renewable energy. Meeting our zero emissions targets is essential, but so is continuing to be competitive and keeping Europe at the forefront of the world economy. We will significantly contribute to accelerating the development of Europe's emerging hydrogen sector by facilitating supplier-consumer linkages," stated Maroš Šefčovič, Executive Vice-President of the EC.

Kadri Simson, an EC energy member, claims that the mechanism will be essential to the establishment of a functional European hydrogen market.

 Too few projects are now in the final stages of investment decisions, and not enough customers are signing contracts to convert to hydrogen, she noted. According to Simson, "this mechanism will help us better understand and identify where hydrogen supply and demand arise."


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