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
"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
(Reporting by Vera Eckert, editing by Barbara Lewis)