Synergy-based hydrogen pricing in hydrogen-integrated electric power system: Sensitivity analysis

Hydrogen price significantly impacts its potential as a viable alternative in the sustainable energy transition. This study introduces a synergy-based Hydrogen Pricing Mechanism (HPM) within an integrated framework. The HPM leverages synergy between a Renewable-Penetrated Electric Power System (RP-EPS) and a Hydrogen Energy System (HES). Utilizing the Alternating Direction Method of Multipliers (ADMM), it facilitates data exchange, quantifying integration levels and simplifying the complexities. The study assesses the HPM's operational sensitivity across various scenarios of hydrogen generation, transportation, and storage. It also evaluates the benefits of synergy-based versus stand-alone HPMs. Findings indicate that the synergy-based HPM effectively integrates infrastructure and operational improvements from both EPS and HES, leading to optimized hydrogen pricing. • Hydrogen pricing based on integration of hydrogen and electric power system. • Lower hydrogen prices by aligning operational targets in integrated configuration. • Enhances market flexibility by transitioning from cost-plus pricing. • Quantified integration level using data exchange method enabled by ADMM.