Centrica Says Hydrogen Can Reduce Household Bills by £35 a Year [Yahoo! Finance Canada]
CENTRICA PLC S/ADR (CPYYY)
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Source: Yahoo! Finance Canada
(Bloomberg) -- Centrica Plc said hydrogen storage can help cut UK electricity bills, even as the economic viability of the technology is questioned elsewhere in Europe. Most Read from Bloomberg The owner of British Gas said large-scale hydrogen storage, such as its Rough facility in the North Sea, could reduce energy costs by £1 billion ($1.3 billion) a year by 2050. That's the equivalent to an annual saving of £35 per household, Centrica said in a report published on Thursday with FTI Consulting. The plea for hydrogen to have role in the UK hitting net zero targets comes as the government ramps up support for electric heat pumps, a key technology to cut the country's dependence on natural gas. Centrica's case for boosting storage capacity also coincides with widening premiums between gas prices in Europe and the UK, reflecting the nation's vulnerability during cold weather in the absence of large sites to stockpile the fuel. Hydrogen's role in decarbonizing heavy industry in
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