Page 33 - 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 fell sharply, pressured by subdued fundamental demand, technical-driven selling, profit-taking, and stop-loss triggers after last week’s climb above 75 EUR. Additionally, the steep increase in gas and coal prices has made power generation from these fuels less viable, further dampening demand for carbon allowances. As a result, EUAs expiring in Dec-25 dropped by about 4% for the week, to close at slilghtly below 73 EUR/tonne. 66687072747678808284Dec25Dec26Dec27Dec28€/tonneThe change in Carbon Prices13.06.202520.06.20251.14201.14401.14601.14801.15001.15201.15401.15601.15801.16000.84800.84900.85000.85100.85200.85300.85400.85500.856013.06.2516.06.2517.06.2518.06.2519.06.2520.06.25€/$€/£The change in €/£/$ €/£€/$The EUR/USD rate ended rather steady to slightly higher at 1.1515, supported by U.S. President Trump's cautious approach to the Israel-Iran conflict, which helped ease concerns of a rapid escalation and restrained moves into safe-haven assets. Sterling weakened against the Euro following a larger-than-expected drop in UK Retail Sales in May. Additionally, the Bank of England (BoE) held interest rates steady at 4.25% during its June meeting, in line with market expectations. Meanwhile, the European Central Bank (ECB) indicated a pause in policy easing this month, despite forecasts suggesting inflation will fall below its 2% target. Consequently, the EUR/GBP pair rose by 0.4% for the week, closing at 0.8537.