Worse than that, Dr. Amal: if 5% of natural gas is substituted with hydrogen made by steam-reforming natural gas ("gray" hydrogen), and the energy efficiency of steam reforming gas is only 70%, the substitution will reduce the overall efficiency of the process by 1.5% (increasing emissions by 1.5%).

The more gray hydrogen that is added, the less efficient the process will be. Burning 100% gray hydrogen to generate electricity would be 30% less efficient than simply burning the natural gas used to make it instead, and will result in a 30% increase in CO2 emissions. Why would any utility want to waste natural gas to produce its electricity? Because it can all be billed to ratepayers, and ratepayers who are under the delusion their utility is burning clean hydrogen will gladly pay it.

It is gold, alright - gold transferred from your pockets to those of your utility's stockholders, for nothing of value in return.