Page 75 - 2025 HEG Daily Energy Market Report

Brent Crude Oil

CARBON (€/T)
THU FRI VAR D-1 VAR W-1 AVG. MAX MIN
20/11 21/11 FROM THE BEGINNING OF THIS YEAR
CO2 EUA DEC 2025 81.36 80.41 -0.95 -0.52 73.79 83.93 60.94
CO2 EUA DEC 2026 83.51 82.55 -0.96 -0.56 75.78 86.35 62.54
CO2 EUA DEC 2027 85.92 84.94 -0.98 -0.55 78.08 89.07 64.54
CO2 EUA DEC 2028 88.65 87.67 -0.98 -0.48 80.65 91.94 66.86
UK ETS DEC 25 EUR 66.06 65.63 -0.43 1.19 57.31 67.04 37.35
UK ETS DEC 26 EUR 69.06 68.63 -0.43 1.26 59.96 70.04 39.48
UK ETS DEC 27 EUR 72.23 71.80 -0.43 1.36 62.76 73.14 42.14

European carbon prices shed previous gains decreasing on Friday amid
warmer weather forecasts. As a result, the price for the 2025-expiry contract
declined by almost 1.2% to settle at 80.41 EUR/tonne.

CO2 EUA

EXCHANGE RATES

THU FRI VAR D-1 VAR W-1 AVG. MAX MIN
20/11 21/11 FROM THE BEGINNING OF THIS YEAR
RATE GBP/EUR 1.1344 1.1360 0.0016 0.0055 1.1702 1.2117 1.1305
RATE EUR/USD 1.1514 1.1520 0.0006 -0.0128 1.1258 1.1837 1.0198
RATE EUR/GBP 0.8815 0.8803 -0.0012 -0.0043 0.8549 0.8846 0.8253

The EUR/USD inched higher on Friday amid a weaker US dollar and ahead of
ECB President Christine Lagarde speech. The pair, hence, ended 0.05% higher