Plug Power Inc. has introduced the first-ever spot pricing programme for liquid green hydrogen, allowing buyers to purchase on-demand without committing to long-term contracts. The initiative marks a shift towards a more flexible hydrogen market, enabling industries such as retail, manufacturing, and power generation to adjust supply based on fluctuating energy demands.
Under the new model, S&P Global Platts will publish a weekly price every Thursday, reflecting Plug’s supply and demand conditions. Customers with a spot agreement in place can purchase hydrogen at the listed price, arranging for a tanker fill at one of Plug’s production plants.
Plug has already signed spot pricing agreements with several industry players, including a major industrial gas company, signalling strong market interest. The company’s production facilities in Woodbine, Georgia; Charleston, Tennessee; and St. Gabriel, Louisiana, with a combined capacity of 45 tons of liquid hydrogen per day, are participating in the programme.
“As hydrogen demand fluctuates, our spot pricing initiative will enable more efficient plant operations, sustaining economies of scale and optimising capital investment returns,” said Plug President Sanjay Shrestha.
As the third-largest liquid hydrogen producer in North America and the only commercial-scale producer of liquid green hydrogen, Plug aims to enhance market transparency and efficiency. The company expects the spot market to become a standard purchasing option within five years, offering greater flexibility for hydrogen buyers while improving operational efficiency in production facilities.
