General Index, the technology-driven alternative to journalistic price assessments has launched its first set of benchmarks for renewables markets in the shape of daily hydrogen prices.
General Index’s approach to commodity pricing delivers market-leading consistency and is bringing much-needed choice to a market that for too long has been characterized by expensive data and inconsistent methodologies.
The launch set of the new hydrogen price data provides insight into the world’s key energy pricing hubs: Northwest Europe, Asia and North America.
The prices are constructed using proprietary production cost-based models, based on actual energy feedstocks supplied to the respective technologies. Creating the price benchmarks was a collaborative project between General Index and renowned hydrogen expert, Rommel Oates.
“We’re delighted to be able to offer our new hydrogen benchmarks to the world. Combining our knowledge and expertise of producing commodity price assessments, with Rommel’s numerous years of experience in the hydrogen industry, has allowed us to take our first step into the renewables sector.”
Saket Vemprala, Pricing Director, Europe and Africa Markets
“These new hydrogen benchmarks are a testament to our belief that hydrogen will be commoditized and transported globally around the world. We are confident that future global hydrogen traders will receive valuable information and insights from our assessment.”
Rommel Oates, President, Oates Energy Solutions
Grey Hydrogen
The General Index model is based on best-in-class Steam Methane Reforming (SMR) as the base technology with practical assumptions for the utilization of the steam.
Electrolysis Hydrogen
The base models track, measure and analyze industry-leading Proton Exchange Membrane (PEM) and Alkaline technologies to produce hydrogen production costs based on renewable energy prices in the relevant regions.
Blue Hydrogen
The General Index model utilizes a modified version of the grey hydrogen methodology, coupled with distinct, best-in-class carbon capture technologies specific to each region.
Benchmarks help everyone decide how to utilize the world’s resources, and this release is a significant step in General Index’s mission to bring consistent and compliant access to key data through a combination of market expertise and leading technology – all underpinned by a coded methodology.
General Index is engaging with global renewables markets on new methodologies to reflect evolving benchmarks. The hydrogen price data will allow users to compare production costs globally and in real time. They also allow market participants to foresee which regions around the world will be able to produce hydrogen at lower cost than other geographies, setting up key precursors for determining potential future hydrogen trade flows.
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