DEUTSCHE BÖRSE AG

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170.78 EUR   +1.35%
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EEX to launch a hydrogen price discovery tool in Q3, 2022

07/05/2022 | 11:45am EDT

FRANKFURT, July 5 (Reuters) - Deutsche Boerse's power and gas exchange EEX on Tuesday said it will make available an instrument to allow dealers to gather information on hydrogen trends and patterns as it seeks to establish a market for the fuel.

EEX told Reuters last year it would set up an index to allow trade in the commodity that is expected to play a big role in the shift to a green economy.

It has formed a partnership with TYCHO Solutions, a Mexican start-up company that is making its business intelligence tool NOVA available.

"By displaying the trends, patterns and relationships in hydrogen and energy ecosystems, the tool supports players within the hydrogen market to better understand the commodity dynamics to improve their decision-making," an EEX statement said.

EEX's Transparency Platform on which NOVA will be displayed already discloses information on relevant market and fundamental data for power, gas, carbon emissions and renewable power spanning 14 countries and a huge customer base.

Germany and other EU countries are seeking to use hydrogen as part of the bloc's efforts to shift to lower carbon energy.

Hydrogen, provided it is produced using renewable energy, can help to reduce emissions in industry and other sectors that have proved difficult to decarbonise, but its development and trading is in the early stages and economics are challenging.

Utilities and oil majors, their customers and related services companies are keen to see markets evolve in import locations and industry clusters to help reach common trading standards. (Reporting by Vera Eckert, editing by Barbara Lewis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BÖRSE AG 1.36% 170.8 Delayed Quote.14.55%
LONDON BRENT OIL 2.84% 95.91 Delayed Quote.18.90%
WTI 2.70% 90.063 Delayed Quote.15.49%
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Financials
Sales 2022 4 069 M 4 125 M 4 125 M
Net income 2022 1 424 M 1 444 M 1 444 M
Net Debt 2022 2 092 M 2 120 M 2 120 M
P/E ratio 2022 21,7x
Yield 2022 2,20%
Capitalization 30 940 M 31 364 M 31 364 M
EV / Sales 2022 8,12x
EV / Sales 2023 7,46x
Nbr of Employees 10 620
Free-Float 96,6%
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Number of Analysts 19
Last Close Price 168,50 €
Average target price 187,82 €
Spread / Average Target 11,5%
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Theodor Weimer Chief Executive Officer
Gregor Pottmeyer Chief Financial Officer
Martin Jetter Chairman-Supervisory Board
Christoph Böhm Chief Operating & Information Officer
Mareike Sich Head-Financial, Corporate & IT
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