POWER: German Power Futures Trade Softer on Gas

German power futures are edging lower with softer EU gas prices. Germany power Cal27-28 backwardation narrowed further yesterday to close at 29.22/MWh, the lowest since 7 September. * Germany Base Power OCT 26 down 0.9% at 160.87 EUR/MWh * Germany Power 4Q 26 down 0.7% at 164.76 EUR/MWh * Germany Power Cal 27 down 0.5% at 126.53 EUR/MWh * TTF Gas OCT 26 down 1.1% at 72.555 EUR/MWh * EUA DEC 26 up 0.4% at 87.05 EUR/MT * TTF front month is holding within yesterday's range after a drop to a low for the month and briefly below 70/MWh amid market optimism as talks continue on the sidelines of this week's UN gathering. * EUAs are edging higher ahead of today's Sept-26 options expiry and the CoT data release. * EEX German power futures aggregate trading volume was at 16,397 the previous trading day, compared with 13,080 the day before. * The latest 18-day ECMWF model run suggests mean temperatures in Germany will rise above normal later this week until the end of the forecast period. Temperatures are set to peak on 30 September. * Mean temperatures in Germany are forecast at 13.06C on 24 September, compared with 12.3C on 23 September and the seasonal average of 13.2C. * German wind output