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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 Carbon prices in Europe dropped sharply over the past week after Italy called for the suspension of the EU emissions trading system. Within the European Union carbon market, this would imply postponing the gradual removal of free allowances and creating a more stable support mechanism for exporters. Consequently, EUAs expiring in Dec-26 tumbled by about 5%, ending at 70.29 EUR/tonne.. 606570758085Dec26Dec27Dec28Dec29€/tonneThe change in Carbon Prices20.02.2627.02.261.17401.17501.17601.17701.17801.17901.18001.18101.18200.86800.86900.87000.87100.87200.87300.87400.87500.87600.877020.02.2623.02.2624.02.2625.02.2626.02.2627.02.26€/$€/£The change in €/£/$ €/£€/$The euro rose against the US dollar, supported by concerns over potential trade retaliation and supply chain disruptions, which weakened the safe-haven dollar. Expectations that the European Central Bank has reached the end of its tightening cycle, along with Christine Lagarde’s confirmation that rates remain appropriate, also supported the currency. Consequently, the EUR/USD pair increased by 0.3% to 1.1805 on Friday. Sterling lost ground versus the European single currency amid continued political uncertainty in the United Kingdom, despite a generally stable risk environment. Although UK equities ended the week on a positive note, the pound failed to benefit. As a result, the EUR/GBP pair rose by 0.4% to 0.8763.