Germany is not ready for hydrogen, claims energy company Eon. The largest energy firm in Germany plans to evaluate the progress of the hydrogen economy twice a year.
Better conditions for the development of the hydrogen economy in Germany are being pushed for by the energy business Eon. The Dax group unveiled its H2 balance, an analysis of the growth of the hydrogen economy, for the first time on Wednesday. Germany is therefore not adequately equipped. With an eye toward 2030, neither local production of climate-neutral hydrogen nor German import requirements can meet the country’s needs.
Additionally, it added, “There is a shortage of infrastructure to provide hydrogen to users.” The Energy Economics Institute (EWI) at the University of Cologne provided the data used in the analysis. In the future, Eon plans to release its evaluation every six months. Sales Director Patrick Lammers said the information is a wake-up call. As one of the biggest gas network providers in Europe, Eon describes itself as “a pioneer in the hydrogen economy” and says, “We’ll let this alarm clock ring once every six months.”
For instance, the EWI estimated the electrolysis capacity of all plants in Germany that were either already operational or were projected to be so by 2030. 5.6 gigawatts of generation capacity are the outcomes. By way of comparison, by 2030, the federal government hopes to reach an electrolysis capacity of roughly 10 gigawatts. The current requirement for imports will grow, even more, warns Eon, if national hydrogen generation does not develop more quickly.
No infrastructure
The infrastructure needed to transport hydrogen is also lacking, particularly from ports to clients. Only 417 kilometers of hydrogen networks exist right now. Eon also highlighted the lack of support for businesses converting to greener options, lengthy approval procedures, and uncertainties in the creation of a hydrogen network.
The group also presented nine-month numbers. By the end of September, group revenues had grown by 70% year over year to around EUR 81.6 billion, also as a result of rising energy costs. Operating profit after adjustments decreased by 3% to 6.1 billion euros. The adjusted net income decreased by the same amount to €2.1 billion.
The profit also came from power generating, which is no longer a primary business. Eon is aiding in the security of the electricity supply and the stability of the grid by temporarily extending the operation of the Isar 2 nuclear power plant through the end of the year. The business declared that it would invest any future operating revenues toward energy transition initiatives. It has been evident since mid-October that the nuclear power plant run by Eon subsidiary Preussenelektra can function until at least mid-April.
