Page 11 - 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 upwards week-on-week, supported by technical buying, expanding fund net-long positions, and expectations of tighter supply, while colder weather forecasts in Central Western Europe boosted short-term demand. Despite early weakness from soft heating demand and lower energy prices, EUAs reached a nine-month high in the midweek trading session. Consequently, EUAs expiring in Dec-25 increased by about 2% for the week, ending at 80.93 EUR/tonne. 75808590Dec25Dec26Dec27Dec28€/tonneThe change in Carbon Prices07.11.202514.11.251.15001.15201.15401.15601.15801.16001.16201.16401.16600.87400.87600.87800.88000.88200.88400.886007.11.2510.11.2511.11.2512.11.2513.11.2514.11.25€/$€/£The change in €/£/$ €/£€/$The EUR/USD rate rose sharply last week, supported by a weaker dollar despite the partial reopening of the U.S. government and high Treasury yields. Markets reduced their expectations of a Fed rate cut in December, while signs of resilience in the eurozone, such as higher industrial production, supported the euro. As such, the EUR/USD increased by 0.8% to reach 1.1648 on Friday. The British pound declined against the Euro last week, weighed down by weaker-than-expected UK economic data and a reduced likelihood of further Bank of England rate hikes. At the same time, the Euro gained support from signs of economic resilience in the eurozone, including rising industrial production, which strengthened investor confidence in the single currency. Finally, the EUR/GBP pair added 0.4% for the week, ending at 0.8846.