Within the span of a week, major utilities Iberdrola, Uniper and NextEra all made moves into the hydrogen market, in a reminder that the miracle molecule is not the sole domain of the oil and gas sector.
But whether utilities will have the ability or need to compete with oil companies in the emerging hydrogen market remains an open question.
To date, gigawatt-scale announcements in the hydrogen sector have been dominated by the likes of Shell, BP and Equinor, typically involving plans for meeting large sources of existing demand in industrial clusters and in some cases their own oil refining operations. Prolonging the lifespan of multibillion-dollar gas infrastructure investments makes for another compelling incentive.
But big utilities in Europe and North America, increasingly large actors on the global energy stage, are not staying on the sidelines - Link
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