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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 surged last week , buoyed by a robust auction and higher European gas prices. At the same time, worries about Norwegian maintenance continued to support the market. However, trading activity was expected to be subdued due to public holidays across Europe. EUAs expiring in Dec-25 soared by over 4% for the week, ending at 73.50 EUR/tonne. 64666870727476788082Dec25Dec26Dec27Dec28€/tonneThe change in Carbon Prices30.05.202506.05.20251.1281.131.1321.1341.1361.1381.141.1421.1440.840.84050.8410.84150.8420.84250.8430.84350.84430.05.2502.06.2503.06.2504.06.2505.06.2506.06.25€/$€/£The change in €/£/$ €/£€/$The Euro saw massive gains versus the U.S. Dollar last week, as traders reacted to the widely anticipated rate cut by the European Central Bank (ECB) and disappointing US weekly jobless claims. In the US, Initial Jobless Claims rose unexpectedly to 247,000 for the week ending May 31. This surprise increase signals a possible softening in the labor market and adds downward pressure on the US Dollar. The EUR/USD rose by 0.6% week-on-week to 1.1411 on Friday. Sterling lost ground against the European single currency as the European Central Bank lowered its deposit rate to 2.00%, whereas the Bank of England’s base rate stands at 4.25%. Additionally, the pound stayed weak despite the UK’s crucial services PMI returning to expansion territory. However, the uptick did not lead to a rally in Sterling, as investors showed little interest in buying GBP. Consequently, the EUR/GBP rate edged 0.2% higher for the week, closing at 0.8426.