Europe's Hydrogen Ambitions Risk Boosting Power Prices
- T&E says EU hydrogen plan would boost power demand 17% by 2030
- Energy ministers debate Renewable Energy Directive next week
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The European Union’s plan to use hydrogen to decarbonize energy-intensive industries like transport and steel risks making making electricity prices “punishingly expensive,” a new study shows.
Using green hydrogen, produced using renewable electricity, to drive the decarbonization of those industries would increase power demand by 17% -- equivalent to the consumption of France -- by 2030, according to non-profit group Transport & Environment. Without additional renewable power, more natural gas would be needed to plug the gap, pushing prices higher, T&E said.