European low-carbon hydrogen production cost premium dropped below unabated steam methane reforming (SMR) in the first quarter of 2023, according to Independent Commodity Intelligence Services (ICIS).
ICIS’ first Quarterly European Hydrogen Markets update found that high carbon prices pushed unabated SMR above low-carbon hydrogen on a project breakeven basis in the first quarter of 2023 for the ‘first time’ in ICIS assessment history.
The commodity service said over the course of 2022 low-carbon hydrogen production costs using front year power, gas and carbon presented an important new picture of the interaction between low-carbon hydrogen and unbated SMR hydrogen production.
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