Clean Hydrogen & Derivatives Pricing: Bridging the Gap to Bankability

This article was produced by Dmitry Artemyev, CFA, Project Finance Advisor, a member of IPFA

Until not long ago, the debate over clean hydrogen pricing centred on whether it would evolve beyond fixed price structures. The more pressing question now is how pricing models can determine a project’s viability, locking in willing offtakers and securing bankability. Drawing on a 2025 survey of 19 senior practitioners and subsequent market developments, this article examines the forces shaping clean hydrogen pricing models and what they now need to achieve.