Page 29 - Demo

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 moved upwards for the week moved upwards for the week due to more aggressive buying, while ongoing heatwaves increased demand for cooling from fossil fuel sources, boosting emissions and EUA demand. At the same time, traders showed less concern about the European Commission's proposal for the EU’s 2040 climate target, meaning it did not negatively affect market sentiment. As a result, EUAs expiring in Dec-25 rose by 1% for the week, to end at 71.67 EUR/tonne. 6668707274767880Dec25Dec26Dec27Dec28€/tonneThe change in Carbon Prices27.06.2504.07.251.1691.1711.1731.1751.1771.1791.1811.1830.84850.85350.85850.86350.868527.06.2530.06.2501.07.2502.07.2503.07.2504.07.25€/$€/£The change in €/£/$ €/£€/$The U.S. Dollar weakened against the Euro last week amid concerns over upcoming US tariffs and the expanding US fiscal deficit driven by the newly approved tax bill. Despite strong US employment data, which typically bolsters the Dollar, worries about rising trade tensions and the $3.4 trillion budget impact have limited further USD gains. Meanwhile, the ECB’s steady interest rate stance continues to underpin the Euro, as market participants await key EU economic data and developments early this week. Consequently, the EUR/USD rate rose by 0.5% to 1.1767. The EUR/GBP pair increased by 1% to settle at 0.8625 as UK fiscal and political concerns weighed on the Pound, following a watered-down welfare reform package. Meanwhile, ECB President Lagarde reaffirmed commitment to the 2% inflation target and signalled readiness to act if needed, supporting the Euro.