FRANKFURT – Deutsche Boerse’s power and gas exchange EEX on Tuesday said it will make available an instrument to allow dealers to gather information on hydrogen trends and patterns as it seeks to establish a market for the fuel.
EEX told Reuters last year it would set up an index to allow trade in the commodity that is expected to play a big role in the shift to a green economy.
It has formed a partnership with TYCHO Solutions, a Mexican start-up company that is making its business intelligence tool NOVA available.
“By displaying the trends, patterns and relationships in hydrogen and energy ecosystems, the tool supports players within the hydrogen market to better understand the commodity dynamics to improve their decision-making,” an EEX statement said.
EEX’s Transparency Platform on which NOVA will be displayed already discloses information on relevant market and fundamental data for power, gas, carbon emissions and renewable power spanning 14 countries and a huge customer base.
Germany and other EU countries are seeking to use hydrogen as part of the bloc’s efforts to shift to lower carbon energy.
Hydrogen, provided it is produced using renewable energy, can help to reduce emissions in industry and other sectors that have proved difficult to decarbonise, but its development and trading is in the early stages and economics are challenging.
Utilities and oil majors, their customers and related services companies are keen to see markets evolve in import locations and industry clusters to help reach common trading standards.
SOURCE: Reuters
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