ERCST Commentary – European Hydrogen Bank: A Game Changer?

ERCST Commentary – European Hydrogen Bank: A Game Changer?

In September 2022, the European Commission President Ursula von der Leyen proposed establishing a “European Hydrogen Bank” to support the uptake of the EU hydrogen market. In March 2023 the official Communication was published.

The European Hydrogen Bank aims to bolster the development of the domestic hydrogen market and stimulate international imports, emphasizing transparency and coordination.

The first EU-wide pilot auction of the Hydrogen Bank was launched in November 2023 and attracted 132 bids from 17 European countries. The EU Commission is now working on defining the second auction that will be launched at the end of the year, after a stakeholder consultation.

This commentary discusses whether the European Hydrogen Bank can be a “game changer” in supporting the development of the European hydrogen market, it highlights relevant aspects of its functioning and it identifies potential areas of improvement in light of stakeholders’ comments.

2024 State of the European Hydrogen Market Report