UK Government to finalise subsidy plan for low-carbon hydrogen by the end of the year

The contracts for difference (CfDs) mechanism would offer a subsidy representing the difference between the strike price (the price of producing hydrogen) and a reference price (the market value of the hydrogen).

The government has defined low-carbon hydrogen as that produced with less than 2.4kg of CO2 emissions for every kilogram of hydrogen produced. The plan is set to be finalised by the end of 2022 with the first support contracts for projects reaching final investment decisions by 2023.

Adapted from an article in Recharge

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