Plug breaks ranks to offer spot deals

US green hydrogen producer Plug Power says its new spot price programme allows buyers to purchase on-demand and without the limitations of long-term agreements

US company Plug Power is to start offering liquid green hydrogen on a spot basis, rather than under long-term contracts, in a bold move that could help to spur the development of a traded commodity market for the energy vector. Under the new system—which Plug says is the first of its type—buyers are able to offtake supplies from any of Plug’s operating US plants at a weekly published spot price, derived from the company’s supply and demand in a given pricing week. Plug produces about 45t/d of liquid green hydrogen. “We believe this initiative will increase trust and transparency in the industrial hydrogen market Marsh” Plug Power Participating buyers will have to sign a spot pricing