Low-carbon hydrogen can help reduce energy price spikes - EU's Simson

MADRID - Establishing a role for low-carbon hydrogen in Europe's economies can help guard against the kind of energy price spikes currently rippling through the bloc's power markets, European Union Energy Commissioner Kadri Simson said on Tuesday.

"I believe hydrogen can play an important role to reduce such price spikes in the future by helping to reduce demand and enabling large scale storage," Simson said at an event in Brussels.

The European Union and several international companies are pushing for investment to develop green hydrogen, made by splitting water molecules with renewable electricity, in the hope it can replace polluting fuel in heavy industry.