The European Energy Exchange (EEX) is participating in the H2Global foundation funded by the Federal Ministry for Economic Affairs and Climate Protection (BMWK). As more and more well-known companies are positioning themselves behind the plans of the new federal government for a comprehensive green energy turnaround, the global commodities exchange will contribute its expertise to the development of more sustainable markets, by developing a trading market particularly for hydrogen.
The H2Global Foundation, which was established to promote the market ramp-up of green hydrogen in Germany and Europe, is getting a prominent addition with the European Energy Exchange (EEX). By joining, EEX is demonstrating its commitment to establishing reliable marketplaces for hydrogen.
"The trading of green hydrogen and its downstream products such as ammonia on the exchange ensures transparency in prices and trading volumes," explains Dr. Tobias Paulun, Chief Strategy Officer of EEX. "The development of liquid exchange markets for hydrogen and its downstream products is important so that producers and consumers can meet under reliable conditions. The work of H2Global lays the foundation for this."
EEX has been operating transparent marketplaces for energy products such as power and natural gas, Guarantees of Origin, CO2 emission allowances within the framework of the European Emissions Trading Scheme (EU ETS) and other commodities for more than 20 years. Building on its experience, EEX is committed to the ramp-up of a European hydrogen economy and established a working group dedicated to hydrogen at the end of 2020. Together with the participants from various sectors of the economy, the exchange is working on a hydrogen index which is based on price assessments by market participants.
With its commitment to H2Global, EEX joins a series of important industrial companies such as Siemens Energy Global GmbH, Thyssenkrupp AG, Deutsche Bank AG, Salzgitter AG or Uniper SE. They all support the approach, which was developed with an interdisciplinary team of experts with significant participation of the BMWK, to ensure a rapid market ramp-up in green hydrogen through a foundation. The Federal Ministry for Economic Affairs and Climate Protection (BMWK) is funding its provision through the H2Global Foundation with almost one billion euros.
"In the interest of the Federal Government, the German economy and, last but not least, society, we see it as our urgent task to establish a strong and internationally diversified supply chain for green hydrogen - trading on an exchange is absolutely a part of this as an allocation and coordination mechanism", H2Global CEO Exenberger summarises the mission of H2Global. "The expertise of EEX in the establishment and operation of energy trading markets is welcomed.”
