Actively manage your risk and exposure
Manage your price risk on the wholesale electricity market through Financial Transmission Rights.
Daily VWAP (Delivered)
$ 10.39 /GJ
▲ 5.6 %
17 Oct
12.68
18 Oct
12.88
19 Oct
15.44
20 Oct
12.71
21 Oct
12.98
22 Oct
17.08
23 Oct
13.35
24 Oct
13.06
25 Oct
11.80
26 Oct
11.78
27 Oct
8.80
28 Oct
8.27
29 Oct
9.84
30 Oct
10.39
FRMI - (Monthly Price Index)
$ 11.97 /GJ
▼ 1.67 %
17 Oct
14.21
18 Oct
14.11
19 Oct
14.06
20 Oct
13.98
21 Oct
13.90
22 Oct
13.85
23 Oct
13.80
24 Oct
13.72
25 Oct
13.58
26 Oct
13.26
27 Oct
12.61
28 Oct
12.37
29 Oct
12.18
30 Oct
11.97
FRQI - (Quarterly Price Index)
$ 15.35 /GJ
▼ 0.49 %
17 Oct
16.03
18 Oct
16.04
19 Oct
16.06
20 Oct
16.04
21 Oct
16.02
22 Oct
16.01
23 Oct
15.98
24 Oct
15.93
25 Oct
15.86
26 Oct
15.80
27 Oct
15.70
28 Oct
15.56
29 Oct
15.43
30 Oct
15.35
Daily Volume (Delivered)
13,150 GJ
▲ 13.85 %
17 Oct
10,400
18 Oct
11,700
19 Oct
11,030
20 Oct
6,300
21 Oct
8,050
22 Oct
3,550
23 Oct
13,440
24 Oct
11,250
25 Oct
15,560
26 Oct
16,700
27 Oct
11,850
28 Oct
14,500
29 Oct
11,550
30 Oct
13,150
BEN ➔ HAY
$ 13.30 /MW
▲ 166.0 %
Nov 26
13.30
Dec 26
6.47
Jan 27
8.55
Feb 27
28.64
Mar 27
21.04
Apr 27
3.72
May 27
7.82
Jun 27
8.04
Jul 27
7.26
Aug 27
6.21
Sep 27
5.94
Oct 27
3.91
Nov 27
6.33
Dec 27
4.82
Average Price
$ 10.71 /MWh
▼ 13.14 %
17 Oct
60.16
18 Oct
50.95
19 Oct
50.50
20 Oct
55.00
21 Oct
95.52
22 Oct
94.14
23 Oct
80.11
24 Oct
10.70
25 Oct
5.80
26 Oct
6.19
27 Oct
44.68
28 Oct
13.47
29 Oct
12.33
30 Oct
10.71
Average Price
$ 12.89 /MWh
▼ 14.07 %
17 Oct
69.60
18 Oct
58.43
19 Oct
60.29
20 Oct
64.30
21 Oct
113.85
22 Oct
113.86
23 Oct
93.25
24 Oct
12.29
25 Oct
6.65
26 Oct
7.13
27 Oct
74.51
28 Oct
31.86
29 Oct
15.00
30 Oct
12.89
Average Price
$ 10.25 /MWh
▼ 12.54 %
17 Oct
32.92
18 Oct
23.47
19 Oct
14.84
20 Oct
22.94
21 Oct
15.80
22 Oct
34.40
23 Oct
34.83
24 Oct
10.30
25 Oct
5.52
26 Oct
5.89
27 Oct
14.90
28 Oct
12.47
29 Oct
11.72
30 Oct
10.25
National Demand
226.1 GW
▲ 1.39 %
17 Oct
211.6
18 Oct
200.3
19 Oct
215.3
20 Oct
215.3
21 Oct
216.6
22 Oct
218.4
23 Oct
213.0
24 Oct
198.3
25 Oct
194.3
26 Oct
197.6
27 Oct
221.5
28 Oct
220.7
29 Oct
223.0
30 Oct
226.1
Daily Volume (Traded)
0 NZU
▼ 100.0 %
18 Oct
0
19 Oct
0
20 Oct
0
21 Oct
1938
22 Oct
0
23 Oct
0
24 Oct
0
25 Oct
0
26 Oct
0
27 Oct
1350
28 Oct
4728
29 Oct
0
30 Oct
1000
31 Oct
0
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
17 Oct
0.00
18 Oct
0.00
19 Oct
0.00
20 Oct
0.00
21 Oct
0.00
22 Oct
0.00
23 Oct
0.00
24 Oct
0.00
25 Oct
0.00
26 Oct
0.00
27 Oct
0.00
28 Oct
0.00
29 Oct
0.00
30 Oct
0.00
ECMI (Monthly Price Index)
$ 51.07 NZU
▼ 1.01 %
17 Oct
51.82
18 Oct
51.85
19 Oct
51.90
20 Oct
51.88
21 Oct
51.88
22 Oct
51.88
23 Oct
51.77
24 Oct
51.77
25 Oct
51.73
26 Oct
51.73
27 Oct
51.73
28 Oct
51.73
29 Oct
51.60
30 Oct
51.07
ECQI (Quarterly Price Index)
$ 51.41 NZU
▼ 0.33 %
17 Oct
52.37
18 Oct
52.37
19 Oct
52.37
20 Oct
52.31
21 Oct
52.26
22 Oct
52.20
23 Oct
51.87
24 Oct
51.79
25 Oct
51.79
26 Oct
51.79
27 Oct
51.64
28 Oct
51.64
29 Oct
51.58
30 Oct
51.41
28.56 gkWh
▲ 15.67 %
18 Oct
31.93
19 Oct
39.96
20 Oct
40.05
21 Oct
42.47
22 Oct
38.88
23 Oct
34.01
24 Oct
26.07
25 Oct
27.00
26 Oct
27.13
27 Oct
30.12
28 Oct
26.70
29 Oct
27.34
30 Oct
24.69
31 Oct
28.56
98.03 %
▼ 0.68 %
18 Oct
97.97
19 Oct
96.40
20 Oct
96.33
21 Oct
95.74
22 Oct
96.20
23 Oct
97.30
24 Oct
98.82
25 Oct
98.75
26 Oct
98.62
27 Oct
97.74
28 Oct
98.61
29 Oct
98.60
30 Oct
98.70
31 Oct
98.03
Daily VWAP (Delivered)
$ 10.39 /GJ
▲ 5.6 %
FRMI - (Monthly Price Index)
$ 11.97 /GJ
▼ 1.67 %
FRQI - (Quarterly Price Index)
$ 15.35 /GJ
▼ 0.49 %
Daily Volume (Delivered)
13,150 GJ
▲ 13.85 %
BEN ➔ HAY
$ 9.53 /MW
▼ 3.64 %
Average Price
$ 10.71 /MWh
▼ 13.14 %
Average Price
$ 12.89 /MWh
▼ 14.07 %
Average Price
$ 10.25 /MWh
▼ 12.54 %
National Demand
226.1 GW
▲ 1.39 %
Daily Volume (Traded)
0 NZU
▼ 100.0 %
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
ECMI (Monthly Price Index)
$ 51.07 NZU
▼ 1.01 %
ECQI (Quarterly Price Index)
$ 51.41 NZU
▼ 0.33 %
28.56 gkWh
▲ 15.67 %
98.03 %
▼ 0.68 %
17 Oct
12.68
18 Oct
12.88
19 Oct
15.44
20 Oct
12.71
21 Oct
12.98
22 Oct
17.08
23 Oct
13.35
24 Oct
13.06
25 Oct
11.80
26 Oct
11.78
27 Oct
8.80
28 Oct
8.27
29 Oct
9.84
30 Oct
10.39
17 Oct
14.21
18 Oct
14.11
19 Oct
14.06
20 Oct
13.98
21 Oct
13.90
22 Oct
13.85
23 Oct
13.80
24 Oct
13.72
25 Oct
13.58
26 Oct
13.26
27 Oct
12.61
28 Oct
12.37
29 Oct
12.18
30 Oct
11.97
17 Oct
16.03
18 Oct
16.04
19 Oct
16.06
20 Oct
16.04
21 Oct
16.02
22 Oct
16.01
23 Oct
15.98
24 Oct
15.93
25 Oct
15.86
26 Oct
15.80
27 Oct
15.70
28 Oct
15.56
29 Oct
15.43
30 Oct
15.35
17 Oct
10,400
18 Oct
11,700
19 Oct
11,030
20 Oct
6,300
21 Oct
8,050
22 Oct
3,550
23 Oct
13,440
24 Oct
11,250
25 Oct
15,560
26 Oct
16,700
27 Oct
11,850
28 Oct
14,500
29 Oct
11,550
30 Oct
13,150
Nov 26
13.30
Dec 26
6.47
Jan 27
8.55
Feb 27
28.64
Mar 27
21.04
Apr 27
3.72
May 27
7.82
Jun 27
8.04
Jul 27
7.26
Aug 27
6.21
Sep 27
5.94
Oct 27
3.91
Nov 27
6.33
Dec 27
4.82
17 Oct
60.16
18 Oct
50.95
19 Oct
50.50
20 Oct
55.00
21 Oct
95.52
22 Oct
94.14
23 Oct
80.11
24 Oct
10.70
25 Oct
5.80
26 Oct
6.19
27 Oct
44.68
28 Oct
13.47
29 Oct
12.33
30 Oct
10.71
17 Oct
69.60
18 Oct
58.43
19 Oct
60.29
20 Oct
64.30
21 Oct
113.85
22 Oct
113.86
23 Oct
93.25
24 Oct
12.29
25 Oct
6.65
26 Oct
7.13
27 Oct
74.51
28 Oct
31.86
29 Oct
15.00
30 Oct
12.89
17 Oct
32.92
18 Oct
23.47
19 Oct
14.84
20 Oct
22.94
21 Oct
15.80
22 Oct
34.40
23 Oct
34.83
24 Oct
10.30
25 Oct
5.52
26 Oct
5.89
27 Oct
14.90
28 Oct
12.47
29 Oct
11.72
30 Oct
10.25
17 Oct
211.6
18 Oct
200.3
19 Oct
215.3
20 Oct
215.3
21 Oct
216.6
22 Oct
218.4
23 Oct
213.0
24 Oct
198.3
25 Oct
194.3
26 Oct
197.6
27 Oct
221.5
28 Oct
220.7
29 Oct
223.0
30 Oct
226.1
18 Oct
0
19 Oct
0
20 Oct
0
21 Oct
1938
22 Oct
0
23 Oct
0
24 Oct
0
25 Oct
0
26 Oct
0
27 Oct
1350
28 Oct
4728
29 Oct
0
30 Oct
1000
31 Oct
0
17 Oct
0.00
18 Oct
0.00
19 Oct
0.00
20 Oct
0.00
21 Oct
0.00
22 Oct
0.00
23 Oct
0.00
24 Oct
0.00
25 Oct
0.00
26 Oct
0.00
27 Oct
0.00
28 Oct
0.00
29 Oct
0.00
30 Oct
0.00
17 Oct
51.82
18 Oct
51.85
19 Oct
51.90
20 Oct
51.88
21 Oct
51.88
22 Oct
51.88
23 Oct
51.77
24 Oct
51.77
25 Oct
51.73
26 Oct
51.73
27 Oct
51.73
28 Oct
51.73
29 Oct
51.60
30 Oct
51.07
17 Oct
52.37
18 Oct
52.37
19 Oct
52.37
20 Oct
52.31
21 Oct
52.26
22 Oct
52.20
23 Oct
51.87
24 Oct
51.79
25 Oct
51.79
26 Oct
51.79
27 Oct
51.64
28 Oct
51.64
29 Oct
51.58
30 Oct
51.41
18 Oct
31.93
19 Oct
39.96
20 Oct
40.05
21 Oct
42.47
22 Oct
38.88
23 Oct
34.01
24 Oct
26.07
25 Oct
27.00
26 Oct
27.13
27 Oct
30.12
28 Oct
26.70
29 Oct
27.34
30 Oct
24.69
31 Oct
28.56
18 Oct
97.97
19 Oct
96.40
20 Oct
96.33
21 Oct
95.74
22 Oct
96.20
23 Oct
97.30
24 Oct
98.82
25 Oct
98.75
26 Oct
98.62
27 Oct
97.74
28 Oct
98.61
29 Oct
98.60
30 Oct
98.70
31 Oct
98.03
Latest Auction Results
Variation October 2026
Latest Results
Log in to view all resultsHAY ➔ BEN (OPT)
| 2026 Nov | 2026 Dec | 2027 Jan | 2027 May | 2027 Jun | 2027 Jul |
| $0.02 | $0.08 | $0.14 | $0.50 | $0.71 | $0.85 |
BEN ➔ HAY (OPT)
| 2026 Nov | 2026 Dec | 2027 Jan | 2027 May | 2027 Jun | 2027 Jul |
| $13.30 | $6.47 | $8.55 | $7.82 | $8.04 | $7.26 |
| Product | Hedge type | 2026 Nov | 2026 Dec | 2027 Jan | 2027 May | 2027 Jun | 2027 Jul |
|---|---|---|---|---|---|---|---|
| HAY ➔ BEN | OPT | $0.02 | $0.08 | $0.14 | $0.50 | $0.71 | $0.85 |
| BEN ➔ HAY | OPT | $13.30 | $6.47 | $8.55 | $7.82 | $8.04 | $7.26 |
Total bids awarded
Latest Auction Stats
Select unit
Last updated 11 a.m. 27 Oct 2026
FTR Manager
Auction Notice
November: Primary
Wed, 11, November 2026
12p.m. - 4:30PM
November: Primary
Wed, 11, November 2026
12PM - 4:30PM
- Dec 2027
- Jan 2028
- Feb 2028
- Oct 2028
- Nov 2028
- Dec 2028
November: Variation
Wed, 18, November 2026
12p.m. - 4:30PM
November: Variation
Wed, 18, November 2026
12PM - 4:30PM
- Dec 2026
- Jan 2027
- Feb 2027
- Jun 2027
- Jul 2027
- Aug 2027
Auction Results available by 4pm the following day
Last updated 11 a.m. 27 Oct 2026
The FTR market commenced in 2013, following significant industry consultation and development of Code requirements.
Energy Market Services was appointed by the Electricity Authority as the FTR Manager Service Provider to implement the FTR auction system and operate the market.
BENEFITS FOR YOUR BUSINESS:
- manage locational price risk in a nodal market
- manage your future risk out to 26 months
- manage locational price risk associated with traditional hedge products
- underwrite or support other risk management products
- a portfolio of FTRs can offset NZX prudential requirements
- expand your retail business to new geographic areas
- participation is free
- monthly auctions