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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 lost ground for the week due to persistent oversupply and delayed reforms. The lack of EU consensus on the Commission’s 90% emissions-reduction target ahead of COP30 reinforced concerns of a slower decarbonisation path. While the German weekly auction and rising energy prices from sanctions on Russian energy could provide some support, the unclear political direction is expected to continue limiting the upside for carbon contracts. EUAs expiring in Dec-25 decreased by 1.4% for the week, ending at 78.32 EUR/tonne. 7476788082848688Dec25Dec26Dec27Dec28€/tonneThe change in Carbon Prices17.10.2524.10.251.15401.15601.15801.16001.16201.16401.16601.16801.17000.86500.86600.86700.86800.86900.87000.87100.87200.873017.10.2520.10.2521.10.2522.10.2523.10.2524.10.25€/$€/£The change in €/£/$ €/£€/$The EUR/USD rate fell by 0.6% to 1.1612, as U.S. President Donald Trump weighed on market sentiment by threatening new restrictions on software exports to China on Thursday, ahead of next week’s meeting with Chinese President Xi Jinping. However, encouraging economic activity figures in Germany and the eurozone helped limit the euro’s decline. Sterling fell against the Euro after UK inflation data for September came in softer than expected, with headline CPI holding at 3.8% and core inflation easing to 3.5%, reinforcing expectations that price pressures have peaked. The data prompted a dovish reassessment of Bank of England policy, with some analysts now expecting a potential rate cut as soon as November. As such, the EUR/GBP rate rose by 0.3% to 0.8726.