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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 tumbled last week, hovering at their lowest price level since September. They came under pressure from risk-averse market sentiment, higher renewable output, and speculation over EU ETS changes, with the contract slipping below 80 EUR/t amid talks of extending free allowances beyond 2034. EUAs expiring in Dec-26 slumped by over 3% to 78.73 EUR/tonne. 7075808590Dec26Dec27Dec28Dec29€/tonneThe change in Carbon Prices30.01.2606.02.261.17001.17501.18001.18501.19001.19500.85600.85800.86000.86200.86400.86600.86800.870030.01.2602.02.2603.02.2604.02.2605.02.2606.02.26€/$€/£The change in €/£/$ €/£€/$The Euro fell sharply against the dollar due to weak retail sales in Germany, lower inflation in the eurozone, and a contraction in German industrial production, despite some support following the ECB’s decision to keep rates unchanged. As a result, the EUR/USD pair dropped by over 1% to 1.1794 on Friday. Sterling lost ground versus the European single currency as political controversy surrounding Prime Minister Starmer’s appointment of Peter Mandelson and unexpected dissent in the Bank of England’s rate decision weighed on the pound, prompting GBP selling and pushing the pair higher. As such, the EUR/GBP pair rose by 0.2% to 0.8679.