Pexapark will provide renewable electricity pricing data to underpin Mibgas’ IBHYX Iberian hydrogen price index, currently at €5.89/kg.
Under the new partnership, Pexapark will act as the official provider of benchmark power purchase agreement (PPA) pricing data for solar and wind in Spain and Portugal.
The data will feed directly into the calculation of the IBHYX index, which reflects the levelised cost of green hydrogen production in the region.
Renewable electricity is the most significant cost driver for green hydrogen – making Pexapark’s market-based pricing, built on 1,000+ monthly data points from real PPA deals, vital for a credible index.
“While offtake deals for green hydrogen, methanol, and other derivatives remain rare across Europe, these fuels will ultimately need to compete for renewable power in an already active PPA market,” explained Jacob Roberts, Director of Business Development & Partnerships at Pexapark.
Launched in December 2024 and updated weekly, IBHYX already meets the EU’s RFNBO standards – and has climbed from €5.85/kg to €5.89/kg in just a few months.
While the new Pexapark partnership sharpens the focus on renewable electricity pricing, it’s not the whole picture. Storage and distribution costs could affect green hydrogen’s viability.
A recent Joule paper warned that these often-overlooked costs render green hydrogen a “prohibitively expensive” decarbonisation tool for many end-use sectors, with carbon abatement costs ranging from $500 to $1,250 per tonne of CO2.
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