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S&P Global Platts Launches First Daily Hydrogen Assessments for Australia

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S&P Global Platts announced the launch of the first suite of hydrogen price assessments for Australia, effective August 16, 2021. This initiative aims to enhance market transparency regarding hydrogen production costs, catering to increased interest from investors and policymakers. The assessments include 128 price evaluations across six states, with prices ranging from $1.509/kg to $4.409/kg. Comparatively, these prices are lower than those in Japan and the Netherlands, establishing Australia as a crucial hub for future hydrogen production.

Positive
  • Launch of Australia's first hydrogen price assessments enhances market transparency.
  • Hydrogen prices in Australia are competitively lower than in Japan and the Netherlands.
  • Strengthens S&P Global Platts' global hydrogen price offerings.
Negative
  • None.

SINGAPORE, Aug. 17, 2021 /PRNewswire/ -- S&P Global Platts ("Platts"), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, today announced the launch of the first suite of hydrogen price assessments for Australia, effective August 16, 2021.

Anton Ferkov, Hydrogen Content and Pricing Specialist (APAC) at S&P Global Platts, said: "Our new Australia Hydrogen assessments are in direct response to requests from market participants wanting greater transparency to understand the cost of Hydrogen production in Australia. These assessments strengthen our global suite of Hydrogen prices and reflect Australia's role as a significant hub for future hydrogen production. Hydrogen continues to attract interest from investors, policymakers and energy market participants as a carrier for clean energy."

Platts launched the world's first North American and European hydrogen assessments in December 2019, and in April 2020 expanded its pricing insight into Asia. Platts daily hydrogen price assessments today include 10 US regional set of prices, one Canadian set of prices, and prices from the UK, Netherlands and Japan. These assessments reflect the value of hydrogen produced at worldwide hubs that are significant regions of consumption.

The new Australia hydrogen prices from Platts consist of 128 assessments spread out over six states, based on multiple cost-based production pathways for hydrogen. The first ever hydrogen assessments for Australia, using data points for Aug. 13, saw proton exchange membrane (PEM) electrolysis (including Capex) prices in a range from $2.699/kg in Tasmania to $4.409/kg in Western Australia, and for alkaline electrolysis (including Capex) in a range from $1.509/kg in Tasmania to $2.989/kg in Western Australia. These price levels are below those in Japan and the Netherlands. For instance for PEM in Japan for the same day, prices were $6.136/kg (including Capex), and in the Netherlands at Eur7.316/kg (including Capex, grid only).

The addition of Australia extends the suite of prices to include one of the expected production hubs of hydrogen. The new prices will reflect the daily cost of hydrogen production via the following five pathways: PEM electrolysis, alkaline electrolysis, steam methane reforming with carbon capture and sequestration (CCS), coal gasification with CCS, and lignite gasification with CCS. For both PEM and alkaline electrolysis, daily hydrogen prices will be published for the following states: New South Wales, Queensland, South Australia, Tasmania, Victoria and Western Australia.

The Platts Hydrogen Production Asset Database by S&P Global Platts Analytics forecasts around 7.0 million mt H2/year of announced hydrogen capacity from renewables by 2030, catering to the demand primarily from power, industrial, chemicals, and mobility sectors.

The subscriber note can be found here and more information on Platts Hydrogen price assessments can be found here.

Media Contacts:
Americas: Kathleen Tanzy, + 1 917-331-4607, kathleen.tanzy@spglobal.com

About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better-informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.

S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for companies, governments and individuals to make decisions with confidence. For more information, visit http://spglobal.com/platts

 

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SOURCE S&P Global Platts

FAQ

What is the significance of S&P Global Platts' hydrogen price assessments for Australia?

The hydrogen price assessments provide market participants with greater transparency on production costs, establishing Australia as a significant hub for hydrogen.

When did S&P Global Platts launch its hydrogen price assessments for Australia?

The hydrogen price assessments for Australia were launched on August 16, 2021.

What price range did S&P Global Platts report for hydrogen production in Australia?

Prices ranged from $1.509/kg in Tasmania to $4.409/kg in Western Australia.

How do Australian hydrogen prices compare to those in Japan and the Netherlands?

Australian hydrogen prices are lower than those in Japan, which reported $6.136/kg, and the Netherlands at Eur7.316/kg.

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