Page 7 - MergedFile

FX

The EUR/USD pair declined slightly over the week, €/£ The change in €/£/$ €/$
reaching 1.1525 on Friday. A stronger-than-expected US
jobs report supported the dollar, while the euro remained 0.8730 1.1650
relatively stable amid thin liquidity due to the Good Friday 0.8720
holiday. 0.8710 1.1600
0.8700
The European single currency increased sharply versus the 1.1550
0.8690
British pound last week. Sterling weakened as Bank of
England Governor Andrew Bailey dampened expectations 0.8680
1.1500
for aggressive rate hikes. Although higher interest rates 0.8670
could help curb inflation, they may also significantly harm 0.8660 1.1450
an already weak UK economy. Consequently, the EUR/GBP
0.8650
rate rose by 0.6% for the week, closing at 0.8725.
0.8640 1.1400
27.03.26 30.03.26 31.03.26 01.04.26 02.04.26
€/£ €/$

CARBON

European carbon prices ended broadly stable over the The change in Carbon Prices
week, with trading activity remaining low ahead of the 85
Easter weekend. The European Commission is set to
unveil more details on its ETS reform in the coming days, 80
clarifying the extent of planned changes. Fewer
allowances are expected to be withdrawn from the €/tonne 75
market than initially planned, which could help stabilise
prices and reduce volatility. 70

As a result, the December 2026-expiry contract closed 65
at 71.69 EUR/tonne on Thursday. Dec26 Dec27 Dec28 Dec29

27.03.26 02.04.26

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