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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 Despite geopolitical tensions, European carbon prices rose over the past week, supported by stronger demand during the compliance buying period ahead of September deadline. As a result, EUAs expiring in Dec-25 rose by 3% for the week, to end at 73.21 EUR/tonne. 6668707274767880Dec25Dec26Dec27Dec28€/tonneThe change in Carbon Prices01.08.2508.08.251.12501.13001.13501.14001.14501.15001.15501.16001.16501.17000.86300.86400.86500.86600.86700.86800.86900.87000.87100.87200.873001.08.2504.08.2505.08.2506.08.2507.08.2508.08.25€/$€/£The change in €/£/$ €/£€/$The EUR/USD pair added a 2% rise against the dollar for the week, driven mainly by weaker U.S. data Midweek gains were reinforced by political concerns over the Fed’s independence, while softer Eurozone data tempered the rally. The pair ended the week near its high at 1.1648, despite a cautious Friday ahead of geopolitical developments. The EUR/GBP ended the week slightly lower, slipping from 0.8673 to 0.8671. Early gains from UK economic worries faded as stronger UK PMI data and a BoE rate cut, paired with weak Eurozone figures, pressured the euro. Midweek strength ahead of the BoE decision was short-lived, and the pair finished the week as were it started as markets awaited geopolitical developments.