Page 7 - 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 saw a steep decline last week, mainly following comments from German Chancellor Friedrich Merz suggesting that the current ETS system is not functioning effectively. Renewed pressure from Poland to ease or amend the ETS sparked a sharp sell-off, exacerbated by weak auction demand and the unwinding of speculative long positions, adding further downward pressure to prices. As a result, EUAs expiring in Dec-26 plummeted by over 10% for the week, the lowest level since May last year. 020406080100Dec26Dec27Dec28Dec29€/tonneThe change in Carbon Prices06.02.2613.02.261.17401.17601.17801.18001.18201.18401.18601.18801.19001.19200.86600.86700.86800.86900.87000.87100.872006.02.2609.02.2610.02.2611.02.2612.02.2613.02.26€/$€/£The change in €/£/$ €/£€/$The Euro appreciated versus the dollar after eurozone GDP figures showed steady economic growth in the fourth quarter. On the U.S. side, weaker Consumer Price Index (CPI) data put downward pressure on the greenback. The EUR/USD rate rose by 0.6% to 1.1862 on Friday. Sterling lost ground against the European single currency as softer UK data kept sentiment around the British Pound (GBP) mixed, while expectations of a more dovish Bank of England (BoE) contrasted with a steady stance from the ECB. On the Euro side, Eurostat data showed that the Eurozone economy grew by 0.3% quarter-on-quarter, in line with both market forecasts and the earlier estimate. As such, the EUR/GBP pair added 0.4% to 0.8716.