MIBGAS, the Iberian Gas Market, has joined forces with Pexapark to introduce the MIBGAS IBHYX, the first renewable hydrogen price index in Iberia. This collaboration aims to establish a transparent and sustainable market for green hydrogen in Spain and Portugal. The index, updated weekly and powered by Pexapark's renewable energy pricing data, reflects the production cost of renewable hydrogen in the Iberian Peninsula. The partnership emphasizes the critical role of renewable energy power purchase agreements (PPAs) in determining fair and competitive hydrogen prices. It highlights the growing significance of PPAs in enabling the European green hydrogen economy, with a noticeable increase in PPA deals linked to hydrogen production. Spain's focus on green hydrogen aligns with its broader renewable energy strategy, as reflected in the Spanish National Integrated Energy and Climate Plan's increased electrolyser capacity target and initiatives like the H2MED pipeline. Pexapark's longstanding support in the Power-to-X market and market intelligence services complement MIBGAS's efforts to advance the renewable gas market. The collaboration between MIBGAS and Pexapark is poised to foster market transparency, drive sustainable energy practices, and accelerate the transition towards renewable energy in Iberia, ultimately supporting the region's goal of becoming a key supplier of affordable green hydrogen in Europe.