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FX CARBON Power prices in Ireland are strongly linked to gas and Carbon prices by the volume of gas fired power stations in Ireland’s power market. Gas prices are in turn influenced by oil prices and exchange rates. Exclusion of Liability Disclaimer: Whilst the information in this document is based on information that Horizon Energy Group Limited considers reliable and endeavors to –ensure is current, neither Horizon Energy Group Limited, nor any of its officers, employees, agents or affiliates make any representation or warranty (express or implied) with respect to, and no such person shall have any responsibility or liability to, any person for either the accuracy, completeness or reliability of the information contained in this document or for delays in the provision of, or for not providing, any of this information. The provision of this information does not represent a recommendation or offer or the solicitation of an offer by Horizon Energy Group Limited to any person to enter into any transaction nor should any person rely on any information contained in this document for any decisions to be made by them. Any opinions expressed by Horizon Energy Group Limited in this document are personal to it and are subject to change without notice. Ownership of the copyright arising in this document belongs to Horizon Energy Group Limited and accordingly this document may not be copied, published, distributed or adapted in any fashion by any person without Horizon Energy Group Limited’s express prior written consent. Horizon Energy Group Limited is registered in Ireland with limited liability. Registered number: 452021 European carbon prices fell significantly over the week, driven by profit-taking and weak technical cues. Sluggish manufacturing data reduced demand for compliance allowances and curtailed emissions in key industries. The slowdown in industrial activity across Europe further lowered the need for companies to purchase EUAs and UKAs. Market sentiment was also subdued, as traders reacted to short-term economic and geopolitical uncertainties, limiting buying interest and reinforcing downward pressure. As a result, the December 2026-expiry contract dropped by roughly 8% week-on-week, closing at 81.26 EUR/tonne on Friday. 707580859095100Dec26Dec27Dec28Dec29€/tonneThe change in Carbon Prices23.01.2630.01.261.16001.16501.17001.17501.18001.18501.19001.19501.20000.86500.86550.86600.86650.86700.86750.86800.86850.869023.01.2626.01.2627.01.2628.01.2629.01.2630.01.26€/$€/£The change in €/£/$ €/£€/$The Euro rose sharply against the U.S. dollar last week, as the greenback came under strong selling pressure amid ongoing concerns over the long-term trade relations of the United States with its partners. Despite the recent easing of geopolitical and trade tensions between Washington and several EU member states, the EUR/USD pair climbed by 1.5% to 1.1742 on Friday. Sterling gained ground against the European single currency in response to dovish remarks from the ECB. Martin Kocher, ECB policymaker, noted that if the euro continues to rise against the U.S. dollar, it could weigh on inflation and potentially pave the way for further interest rate reductions. Consequently, the EUR/GBP rate slipped by 0.2% for the week, ending at 0.8662.