The emergence of a European hydrogen market

Leader of the project: HUN-REN CERS, Institute of World Economics, Hungary

Coordinator of the project: John Szabó (HUN-REN CERS Institute of World Economics)

Implementation period: 2024 – 2026

This research project supported by Kulturális és Innovációs Minisztérium, NKFI Alap

ABOUT THE PROJECT

Hydrogen has taken centre stage on the energy scene in the past few years. Many think of it as the “silver bullet” of the green transition, but for it to take on any role policy-makers need to develop a market framework. This project explores how this process is unfolding within the EU. It looks at the political economics of building a market and how various interests clash.

The project’s objective is seemingly quite simple: show how a market emerges. Hydrogen is a new component of the energy system that many expect will play a central role in decarbonisation. Accordingly, the EU began to build a market for this energy carrier, a process which is yet to be mapped. The proposed project will trace which forces and interests configured the policy and regulatory framework that governs the hydrogen market. Various interests ranging from established hydrocarbon companies to practices on how the EU governs electricity and natural gas markets shape the particular configuration of its nascent hydrogen market. I plan to trace this process by drawing on Foucauldian thought. The empirical focus of my work will show how this market emerges, while its theoretical insights show how a market may emerge in a specific context. My goal is to also provide input for policy, as it is crucial that the EU progresses with its green transition quickly and in-line with other ethical considerations.