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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 last week as EU leaders convened for a key summit to discuss measures aimed at reducing electricity prices and enhancing the European Union’s competitiveness, including potential revisions to the EU ETS. Elevated volatility is likely to persist amid ongoing policy uncertainty. Strong fund selling, subdued auction demand, and thin liquidity amplified the decline, with Dec-26 and Dec-27 EUAs both dropping by 2% to 67.66 EUR/tonne and 70.10 EUR/tonne, respectively. 6065707580Dec26Dec27Dec28Dec29€/tonneThe change in Carbon Prices13.03.2620.03.261.14201.14401.14601.14801.15001.15201.15401.15601.15800.86300.86350.86400.86450.86500.865513.03.2616.03.2617.03.2618.03.2619.03.2620.03.26€/$€/£The change in €/£/$ €/£€/$The euro rose against the dollar last week after the European Central Bank (ECB) kept interest rates unchanged, while a source revealed that policymakers are ready to consider rate hikes as early as April. In the United States, the Federal Reserve (Fed) also held rates steady, while its Chair Jerome Powell adopted a neutral to slightly hawkish tone during his press conference. The EUR/USD pair gained 0.7% to close at 1.1555 on Friday. The EUR/GBP rate ended rather flat at 0.8644. A lack of new economic data kept Sterling subdued throughout much of the week, as investors stayed cautious and avoided taking positions ahead of the Bank of England’s policy decision. The euro remained stable despite a sharp drop in Germany’s ZEW economic sentiment index, but it lagged behind Sterling after the Bank of England delivered a more hawkish signal.