In Belgium, The European Commission said it is taking further steps to support the development of the European hydrogen market by launching work on a pilot mechanism. The body said that the new mechanism was created under the recently-adopted decarbonized gases and hydrogen package, and aims to accelerate investments by providing a clearer picture of the market situation of both off-takers and suppliers and facilitating contacts between them. It will be in place for five years and will be part of the European Hydrogen Bank, the commission said. The hydrogen pilot mechanism will collect, process and give access to information on demand and supply for renewable, low-carbon hydrogen and derivatives, allowing European off-takers to match with both European and foreign suppliers. It will collect and process market data on development of hydrogen flows and prices. The commission has recently launched procurement process to find a service provider to develop an IT platform to operate the pilot mechanism. The Commission plans to sign a contract by the end of this year, so that it can start its operations by mid-2025. “The pilot hydrogen mechanism forms part of the Commission’s ongoing work to establish a European Multiproduct Platform for the joint purchase of strategic commodities, which, in the future, could cover commodities such as strategic raw materials,” the body stated.
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