Origin Energy deals big blow to Australia’s hydrogen hopes

According to The Australian Financial Review, Origin Energy has abandoned its hydrogen venture in a major blow to a key element of the Labor government’s decarbonisation strategy, as the economics of clean hydrogen projects increasingly fail to stack up.
The ASX-listed electricity and gas giant said it would not proceed with its investment in the NSW Hunter Valley Hydrogen Hub, one of the most advanced clean hydrogen developments in the country and one that has been shortlisted for funding as part of Labor’s $2 billion Hydrogen Headstart scheme.
Clean hydrogen is made using renewable energy and has been touted by advocates and policymakers as a replacement for gas.
“It has become clear that the hydrogen market is developing more slowly than anticipated, and there remain risks and both input cost and technology advancements to overcome,” said Origin chief executive Frank Calabria.

https://www.afr.com/companies/energy/origin-energy-abandons-big-hydrogen-plans-in-blow-to-fuel-s-future-20241003-p5kflu