Actively manage your risk and exposure
Manage your price risk on the wholesale electricity market through Financial Transmission Rights.

Daily VWAP (Delivered)
$ 14.11 /GJ
▲ 22.3 %
25 Jan
16.60
26 Jan
14.88
27 Jan
14.15
28 Jan
12.29
29 Jan
14.46
30 Jan
14.13
31 Jan
14.66
01 Feb
13.84
02 Feb
13.74
03 Feb
14.39
04 Feb
14.01
05 Feb
16.16
06 Feb
11.54
07 Feb
14.11
FRMI - (Monthly Price Index)
$ 12.09 /GJ
▲ 2.69 %
25 Jan
9.50
26 Jan
9.67
27 Jan
9.82
28 Jan
9.98
29 Jan
10.11
30 Jan
10.49
31 Jan
10.75
01 Feb
11.06
02 Feb
11.13
03 Feb
11.33
04 Feb
11.51
05 Feb
11.68
06 Feb
11.78
07 Feb
12.09
FRQI - (Quarterly Price Index)
$ 8.95 /GJ
▲ 1.01 %
25 Jan
8.39
26 Jan
8.42
27 Jan
8.45
28 Jan
8.55
29 Jan
8.64
30 Jan
8.74
31 Jan
8.78
01 Feb
8.78
02 Feb
8.77
03 Feb
8.79
04 Feb
8.81
05 Feb
8.81
06 Feb
8.86
07 Feb
8.95
Daily Volume (Delivered)
20,510 GJ
▲ 2.24 %
25 Jan
8,270
26 Jan
5,500
27 Jan
4,220
28 Jan
9,260
29 Jan
3,450
30 Jan
24,590
31 Jan
10,490
01 Feb
2,235
02 Feb
1,505
03 Feb
6,790
04 Feb
10,945
05 Feb
3,835
06 Feb
20,060
07 Feb
20,510
Carbon emissions index
123.29
▼ 0.01 %
12 Oct
123.33
13 Oct
123.32
14 Oct
123.28
15 Oct
123.27
16 Oct
123.28
17 Oct
123.29
18 Oct
123.26
19 Oct
123.32
20 Oct
123.30
21 Oct
123.29
22 Oct
123.30
23 Oct
123.29
24 Oct
123.30
25 Oct
123.29
HAY ➔ BEN
$ 1.82 /MW
▼ 76.76 %
Mar 25
1.82
Apr 25
1.00
May 25
0.93
Jun 25
0.97
Jul 25
1.14
Aug 25
1.33
Sep 25
1.41
Oct 25
0.72
Nov 25
0.82
Dec 25
0.68
Jan 26
0.66
Feb 26
2.43
Mar 26
1.50
Apr 26
0.78
BEN ➔ HAY
$ 20.17 /MW
▼ 40.11 %
Mar 25
20.17
Apr 25
8.18
May 25
8.29
Jun 25
12.08
Jul 25
14.21
Aug 25
12.37
Sep 25
11.49
Oct 25
9.10
Nov 25
11.09
Dec 25
9.15
Jan 26
9.38
Feb 26
30.87
Mar 26
18.03
Apr 26
17.25
Average Price
$ 211.15 /MWh
▼ 13.24 %
25 Jan
212.59
26 Jan
157.28
27 Jan
123.12
28 Jan
143.06
29 Jan
135.81
30 Jan
222.01
31 Jan
196.23
01 Feb
200.96
02 Feb
189.78
03 Feb
217.58
04 Feb
227.82
05 Feb
233.85
06 Feb
243.37
07 Feb
211.15
Average Price
$ 221.52 /MWh
▼ 9.02 %
25 Jan
213.70
26 Jan
156.14
27 Jan
126.76
28 Jan
156.02
29 Jan
153.31
30 Jan
242.68
31 Jan
213.76
01 Feb
221.92
02 Feb
212.13
03 Feb
228.67
04 Feb
239.03
05 Feb
240.73
06 Feb
243.49
07 Feb
221.52
Average Price
$ 209.27 /MWh
▼ 13.31 %
25 Jan
210.36
26 Jan
157.01
27 Jan
119.57
28 Jan
137.03
29 Jan
134.49
30 Jan
213.48
31 Jan
190.64
01 Feb
197.17
02 Feb
189.76
03 Feb
212.28
04 Feb
223.51
05 Feb
229.34
06 Feb
241.41
07 Feb
209.27
National Demand
210.5 GW
▲ 4.31 %
25 Jan
196.1
26 Jan
191.8
27 Jan
194.2
28 Jan
204.9
29 Jan
209.5
30 Jan
213.0
31 Jan
212.5
01 Feb
197.9
02 Feb
197.1
03 Feb
216.6
04 Feb
220.1
05 Feb
218.9
06 Feb
201.8
07 Feb
210.5
Daily Volume (Traded)
0 NZU
▼ 100.0 %
26 Jan
0
27 Jan
981
28 Jan
3142
29 Jan
1250
30 Jan
0
31 Jan
341
01 Feb
0
02 Feb
0
03 Feb
1873
04 Feb
1757
05 Feb
500
06 Feb
843
07 Feb
800
08 Feb
0
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
25 Jan
0.00
26 Jan
0.00
27 Jan
0.00
28 Jan
0.00
29 Jan
0.00
30 Jan
0.00
31 Jan
0.00
01 Feb
0.00
02 Feb
0.00
03 Feb
0.00
04 Feb
0.00
05 Feb
0.00
06 Feb
0.00
07 Feb
0.00
ECMI (Monthly Price Index)
$ 62.79 NZU
▲ 0.03 %
25 Jan
62.66
26 Jan
62.66
27 Jan
62.68
28 Jan
62.70
29 Jan
62.70
30 Jan
62.73
31 Jan
62.74
01 Feb
62.74
02 Feb
62.74
03 Feb
62.74
04 Feb
62.75
05 Feb
62.77
06 Feb
62.77
07 Feb
62.79
ECQI (Quarterly Price Index)
$ 62.93 NZU
▲ 0.02 %
25 Jan
62.88
26 Jan
62.88
27 Jan
62.89
28 Jan
62.90
29 Jan
62.90
30 Jan
62.91
31 Jan
62.92
01 Feb
62.92
02 Feb
62.92
03 Feb
62.92
04 Feb
62.92
05 Feb
62.92
06 Feb
62.91
07 Feb
62.93
135.56 gkWh
▲ 6.89 %
26 Jan
99.24
27 Jan
57.12
28 Jan
94.22
29 Jan
71.04
30 Jan
106.76
31 Jan
122.26
01 Feb
128.17
02 Feb
118.45
03 Feb
130.58
04 Feb
130.58
05 Feb
133.08
06 Feb
131.15
07 Feb
126.82
08 Feb
135.56
80.83 %
▼ 0.83 %
26 Jan
85.13
27 Jan
91.35
28 Jan
86.12
29 Jan
88.30
30 Jan
83.62
31 Jan
81.85
01 Feb
81.09
02 Feb
81.80
03 Feb
81.45
04 Feb
81.48
05 Feb
81.10
06 Feb
80.72
07 Feb
81.51
08 Feb
80.83
Daily VWAP (Delivered)
$ 14.11 /GJ
▲ 22.3 %
FRMI - (Monthly Price Index)
$ 12.09 /GJ
▲ 2.69 %
FRQI - (Quarterly Price Index)
$ 8.95 /GJ
▲ 1.01 %
Daily Volume (Delivered)
20,510 GJ
▲ 2.24 %
Carbon emissions index
123.29
▼ 0.01 %
HAY ➔ BEN
$ 0.79 /MW
▼ 5.95 %
BEN ➔ HAY
$ 9.53 /MW
▼ 3.64 %
Average Price
$ 211.15 /MWh
▼ 13.24 %
Average Price
$ 221.52 /MWh
▼ 9.02 %
Average Price
$ 209.27 /MWh
▼ 13.31 %
National Demand
210.5 GW
▲ 4.31 %
Daily Volume (Traded)
0 NZU
▼ 100.0 %
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
ECMI (Monthly Price Index)
$ 62.79 NZU
▲ 0.03 %
ECQI (Quarterly Price Index)
$ 62.93 NZU
▲ 0.02 %
135.56 gkWh
▲ 6.89 %
80.83 %
▼ 0.83 %
25 Jan
16.60
26 Jan
14.88
27 Jan
14.15
28 Jan
12.29
29 Jan
14.46
30 Jan
14.13
31 Jan
14.66
01 Feb
13.84
02 Feb
13.74
03 Feb
14.39
04 Feb
14.01
05 Feb
16.16
06 Feb
11.54
07 Feb
14.11
25 Jan
9.50
26 Jan
9.67
27 Jan
9.82
28 Jan
9.98
29 Jan
10.11
30 Jan
10.49
31 Jan
10.75
01 Feb
11.06
02 Feb
11.13
03 Feb
11.33
04 Feb
11.51
05 Feb
11.68
06 Feb
11.78
07 Feb
12.09
25 Jan
8.39
26 Jan
8.42
27 Jan
8.45
28 Jan
8.55
29 Jan
8.64
30 Jan
8.74
31 Jan
8.78
01 Feb
8.78
02 Feb
8.77
03 Feb
8.79
04 Feb
8.81
05 Feb
8.81
06 Feb
8.86
07 Feb
8.95
25 Jan
8,270
26 Jan
5,500
27 Jan
4,220
28 Jan
9,260
29 Jan
3,450
30 Jan
24,590
31 Jan
10,490
01 Feb
2,235
02 Feb
1,505
03 Feb
6,790
04 Feb
10,945
05 Feb
3,835
06 Feb
20,060
07 Feb
20,510
12 Oct
123.33
13 Oct
123.32
14 Oct
123.28
15 Oct
123.27
16 Oct
123.28
17 Oct
123.29
18 Oct
123.26
19 Oct
123.32
20 Oct
123.30
21 Oct
123.29
22 Oct
123.30
23 Oct
123.29
24 Oct
123.30
25 Oct
123.29
Mar 25
1.82
Apr 25
1.00
May 25
0.93
Jun 25
0.97
Jul 25
1.14
Aug 25
1.33
Sep 25
1.41
Oct 25
0.72
Nov 25
0.82
Dec 25
0.68
Jan 26
0.66
Feb 26
2.43
Mar 26
1.50
Apr 26
0.78
Mar 25
20.17
Apr 25
8.18
May 25
8.29
Jun 25
12.08
Jul 25
14.21
Aug 25
12.37
Sep 25
11.49
Oct 25
9.10
Nov 25
11.09
Dec 25
9.15
Jan 26
9.38
Feb 26
30.87
Mar 26
18.03
Apr 26
17.25
25 Jan
212.59
26 Jan
157.28
27 Jan
123.12
28 Jan
143.06
29 Jan
135.81
30 Jan
222.01
31 Jan
196.23
01 Feb
200.96
02 Feb
189.78
03 Feb
217.58
04 Feb
227.82
05 Feb
233.85
06 Feb
243.37
07 Feb
211.15
25 Jan
213.70
26 Jan
156.14
27 Jan
126.76
28 Jan
156.02
29 Jan
153.31
30 Jan
242.68
31 Jan
213.76
01 Feb
221.92
02 Feb
212.13
03 Feb
228.67
04 Feb
239.03
05 Feb
240.73
06 Feb
243.49
07 Feb
221.52
25 Jan
210.36
26 Jan
157.01
27 Jan
119.57
28 Jan
137.03
29 Jan
134.49
30 Jan
213.48
31 Jan
190.64
01 Feb
197.17
02 Feb
189.76
03 Feb
212.28
04 Feb
223.51
05 Feb
229.34
06 Feb
241.41
07 Feb
209.27
25 Jan
196.1
26 Jan
191.8
27 Jan
194.2
28 Jan
204.9
29 Jan
209.5
30 Jan
213.0
31 Jan
212.5
01 Feb
197.9
02 Feb
197.1
03 Feb
216.6
04 Feb
220.1
05 Feb
218.9
06 Feb
201.8
07 Feb
210.5
26 Jan
0
27 Jan
981
28 Jan
3142
29 Jan
1250
30 Jan
0
31 Jan
341
01 Feb
0
02 Feb
0
03 Feb
1873
04 Feb
1757
05 Feb
500
06 Feb
843
07 Feb
800
08 Feb
0
25 Jan
0.00
26 Jan
0.00
27 Jan
0.00
28 Jan
0.00
29 Jan
0.00
30 Jan
0.00
31 Jan
0.00
01 Feb
0.00
02 Feb
0.00
03 Feb
0.00
04 Feb
0.00
05 Feb
0.00
06 Feb
0.00
07 Feb
0.00
25 Jan
62.66
26 Jan
62.66
27 Jan
62.68
28 Jan
62.70
29 Jan
62.70
30 Jan
62.73
31 Jan
62.74
01 Feb
62.74
02 Feb
62.74
03 Feb
62.74
04 Feb
62.75
05 Feb
62.77
06 Feb
62.77
07 Feb
62.79
25 Jan
62.88
26 Jan
62.88
27 Jan
62.89
28 Jan
62.90
29 Jan
62.90
30 Jan
62.91
31 Jan
62.92
01 Feb
62.92
02 Feb
62.92
03 Feb
62.92
04 Feb
62.92
05 Feb
62.92
06 Feb
62.91
07 Feb
62.93
26 Jan
99.24
27 Jan
57.12
28 Jan
94.22
29 Jan
71.04
30 Jan
106.76
31 Jan
122.26
01 Feb
128.17
02 Feb
118.45
03 Feb
130.58
04 Feb
130.58
05 Feb
133.08
06 Feb
131.15
07 Feb
126.82
08 Feb
135.56
26 Jan
85.13
27 Jan
91.35
28 Jan
86.12
29 Jan
88.30
30 Jan
83.62
31 Jan
81.85
01 Feb
81.09
02 Feb
81.80
03 Feb
81.45
04 Feb
81.48
05 Feb
81.10
06 Feb
80.72
07 Feb
81.51
08 Feb
80.83
Latest Auction Results
Variation January 2025
Latest Results
Log in to view all resultsHAY ➔ BEN (OPT)
2025 Feb | 2025 Mar | 2025 Apr | 2025 Aug | 2025 Sep | 2025 Oct |
$7.83 | $1.82 | $1.00 | $1.33 | $1.41 | $0.72 |
BEN ➔ HAY (OPT)
2025 Feb | 2025 Mar | 2025 Apr | 2025 Aug | 2025 Sep | 2025 Oct |
$33.68 | $20.17 | $8.18 | $12.37 | $11.49 | $9.10 |
Product | Hedge type | 2025 Feb | 2025 Mar | 2025 Apr | 2025 Aug | 2025 Sep | 2025 Oct |
---|---|---|---|---|---|---|---|
HAY ➔ BEN | OPT | $7.83 | $1.82 | $1.00 | $1.33 | $1.41 | $0.72 |
BEN ➔ HAY | OPT | $33.68 | $20.17 | $8.18 | $12.37 | $11.49 | $9.10 |
Total bids awarded
Latest Auction Stats
Select unit
Last updated 8 a.m. 27 Jan 2025
FTR Manager
Auction Notice
February: Primary
Wed, 12, February 2025
12p.m. - 4:30PM
February: Primary
Wed, 12, February 2025
12PM - 4:30PM
- Jan 2027
- Feb 2027
- Mar 2027
- Mar 2026
- Apr 2026
- May 2026
February: Variation
Wed, 19, February 2025
12p.m. - 4:30PM
February: Variation
Wed, 19, February 2025
12PM - 4:30PM
- Mar 2025
- Apr 2025
- May 2025
- Sep 2025
- Oct 2025
- Nov 2025
Auction Results available 4pm the following day
Last updated 8 a.m. 27 Jan 2025
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