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In light of advancing climate change, environmentally-friendly methods for generating renewable energy are being employed to an increasing extent. This use, however, leads to rising spatial and temporal disbalances between electricity generation and consumption. To address the associated challenges, Power-to-X technologies are considered to harness surplus electricity from renewable sources and convert it into an alternative energy source that can be utilized, transported and stored. The aim of this paper is to compare four different Power-to-X technologies, whereby surplus electricity "Power" is converted to chemical entities "X ". It is shown that the implementation of PtX technologies and a shift of energy distribution to other transport methods could significantly relieve the electricity grid. Moreover, by converting the electricity from renewable sources, like wind farms, into chemical energy sources, the PtX concept offers the opportunity of making larger quantities of energy storable over longer periods of time. By considering a model case where electricity generation and consumption are several hundred kilometres apart, the generation of fuels emerges as a technology with the highest potential to mitigate climate change. Also with regard to transport, fuels emerge as the most favourable option for transporting chemically bound energy. Common to all options is the yield of a significant stream of oxygen as by-product. Utilizing this oxygen may be one of the key factors towards improving the economic viability of Power-to-X technologies. • Power-to-X technologies convert renewable energy to an energy source that can be readily stored, transported and utilized. • Changes in energy distribution enabled through PtX can significantly relieve the electricity grid. • Generating fuels by PtX has a high potential to mitigate climate change. • The PtX concept offers the opportunity of making large quantities of renewable energy storable over longer periods of time. • Utilizing oxygen that is produced as by-product of water electrolysis improves the economic viability of PtX technologies. [ABSTRACT FROM AUTHOR]