Grid integrated water electrolysers have the potential of coupling electric power systems subjected to high shares of renewable energy sources with sectors of hydrogen demand, thus contributing to European decarbonization goals in future. We therefore investigate the business potential of future electrolyser applications in cross-commodity arbitrage trading by applying a complex power market simulation method for future scenarios and different European countries. Based on this, we evaluate the potential of additional provision of grid services towards grid operators in order to increase the electrolyser utilization ratio. For this, we use a method that identifies measures of transmission grid operators in order to ensure secure grid operation. In this context, uncertain hydrogen prices and different sectors of hydrogen demand are addressed through sensitivities of different hydrogen sales prices. The analysis shows a high dependency of business model efficiency on the hydrogen price. While cross-commodity arbitrage trading can achieve profitability for the transportation sector, applications for the industry sector and natural gas system are less efficient. The results however indicate that for these less efficient applications grid service provision can be an option of increasing the electrolyser utilization ratio thus increasing its profitability. (C) 2018 The Authors. Published by Elsevier Ltd.