Ever more hydrogen power plants are being announced with the latest coming from Essar Energy Transition (EET), a 125MW hydrogen-ready power plant at the Stanlow refinery in the UK aiming to begin operation by 2027. The motivation seems clear enough – varied electricity mix, quick-response comparable to gas plants for forming the grid, and no geo-political concerns associated with the procurement of the fuel. But does it really make sense? Rethink believes that the wholesale price of electricity will be greatly impacted by the introduction of such power plants which will ultimately put a stop to new developments. There are few ways to think about this, as last week we pointed out that hydrogen power plants make more sense in…