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

Daily VWAP (Delivered)
$ 19.13 /GJ
▼ 0.26 %
08 Mar
18.63
09 Mar
18.66
10 Mar
18.92
11 Mar
19.03
12 Mar
18.85
13 Mar
18.16
14 Mar
18.21
15 Mar
17.81
16 Mar
20.76
17 Mar
21.72
18 Mar
20.40
19 Mar
18.48
20 Mar
19.18
21 Mar
19.13
FRMI - (Monthly Price Index)
$ 19.29 /GJ
▲ 0.17 %
08 Mar
17.13
09 Mar
17.74
10 Mar
18.13
11 Mar
18.19
12 Mar
18.22
13 Mar
18.26
14 Mar
18.28
15 Mar
18.34
16 Mar
18.52
17 Mar
18.84
18 Mar
19.13
19 Mar
19.18
20 Mar
19.25
21 Mar
19.29
FRQI - (Quarterly Price Index)
$ 12.91 /GJ
▲ 1.42 %
08 Mar
11.02
09 Mar
11.21
10 Mar
11.32
11 Mar
11.47
12 Mar
11.61
13 Mar
11.72
14 Mar
11.80
15 Mar
11.96
16 Mar
12.11
17 Mar
12.27
18 Mar
12.40
19 Mar
12.57
20 Mar
12.73
21 Mar
12.91
Daily Volume (Delivered)
15,150 GJ
▲ 108.82 %
08 Mar
6,980
09 Mar
14,392
10 Mar
4,580
11 Mar
7,810
12 Mar
6,545
13 Mar
18,170
14 Mar
15,325
15 Mar
16,520
16 Mar
10,100
17 Mar
9,580
18 Mar
8,355
19 Mar
16,320
20 Mar
7,255
21 Mar
15,150
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
$ 2.60 /MW
▼ 52.21 %
Apr 25
2.60
May 25
2.85
Jun 25
2.42
Jul 25
1.14
Aug 25
1.33
Sep 25
2.74
Oct 25
0.80
Nov 25
0.85
Dec 25
0.75
Jan 26
0.66
Feb 26
2.43
Mar 26
1.70
Apr 26
1.27
May 26
1.44
BEN ➔ HAY
$ 6.39 /MW
▼ 36.1 %
Apr 25
6.39
May 25
4.81
Jun 25
7.09
Jul 25
14.21
Aug 25
12.37
Sep 25
13.73
Oct 25
6.60
Nov 25
5.85
Dec 25
5.77
Jan 26
9.38
Feb 26
30.87
Mar 26
16.64
Apr 26
16.93
May 26
15.79
Average Price
$ 270.51 /MWh
▲ 1.95 %
08 Mar
264.78
09 Mar
279.87
10 Mar
300.78
11 Mar
282.69
12 Mar
342.91
13 Mar
317.33
14 Mar
291.10
15 Mar
228.81
16 Mar
243.37
17 Mar
299.39
18 Mar
286.54
19 Mar
281.88
20 Mar
265.33
21 Mar
270.51
Average Price
$ 269.47 /MWh
▲ 1.43 %
08 Mar
252.60
09 Mar
258.52
10 Mar
298.05
11 Mar
291.81
12 Mar
339.59
13 Mar
311.66
14 Mar
288.37
15 Mar
221.74
16 Mar
237.59
17 Mar
303.88
18 Mar
286.52
19 Mar
281.54
20 Mar
265.67
21 Mar
269.47
Average Price
$ 271.38 /MWh
▲ 0.37 %
08 Mar
266.92
09 Mar
286.53
10 Mar
305.37
11 Mar
288.01
12 Mar
350.15
13 Mar
327.01
14 Mar
292.50
15 Mar
242.83
16 Mar
252.86
17 Mar
309.20
18 Mar
295.56
19 Mar
283.38
20 Mar
270.38
21 Mar
271.38
National Demand
207.6 GW
▼ 1.8 %
08 Mar
190.6
09 Mar
186.0
10 Mar
206.6
11 Mar
211.4
12 Mar
214.4
13 Mar
211.0
14 Mar
207.1
15 Mar
190.1
16 Mar
188.7
17 Mar
213.4
18 Mar
215.5
19 Mar
213.7
20 Mar
211.4
21 Mar
207.6
Daily Volume (Traded)
0 NZU
▼ 100.0 %
09 Mar
0
10 Mar
0
11 Mar
0
12 Mar
2000
13 Mar
5110
14 Mar
2496
15 Mar
0
16 Mar
0
17 Mar
4152
18 Mar
6029
19 Mar
124
20 Mar
2202
21 Mar
2736
22 Mar
0
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
08 Mar
0.00
09 Mar
0.00
10 Mar
0.00
11 Mar
0.00
12 Mar
0.00
13 Mar
0.00
14 Mar
0.00
15 Mar
0.00
16 Mar
0.00
17 Mar
0.00
18 Mar
0.00
19 Mar
0.00
20 Mar
0.00
21 Mar
0.00
ECMI (Monthly Price Index)
$ 61.49 NZU
▼ 0.05 %
08 Mar
63.08
09 Mar
63.08
10 Mar
63.04
11 Mar
62.78
12 Mar
62.78
13 Mar
62.75
14 Mar
62.66
15 Mar
62.60
16 Mar
62.59
17 Mar
62.32
18 Mar
62.17
19 Mar
61.86
20 Mar
61.51
21 Mar
61.49
ECQI (Quarterly Price Index)
$ 62.29 NZU
▼ 0.01 %
08 Mar
62.80
09 Mar
62.79
10 Mar
62.79
11 Mar
62.77
12 Mar
62.77
13 Mar
62.77
14 Mar
62.75
15 Mar
62.75
16 Mar
62.75
17 Mar
62.65
18 Mar
62.61
19 Mar
62.47
20 Mar
62.29
21 Mar
62.29
167.60 gkWh
▲ 4.09 %
09 Mar
167.23
10 Mar
182.14
11 Mar
174.46
12 Mar
178.31
13 Mar
184.34
14 Mar
181.79
15 Mar
144.99
16 Mar
146.63
17 Mar
162.63
18 Mar
153.82
19 Mar
163.16
20 Mar
155.62
21 Mar
161.02
22 Mar
167.60
77.27 %
▼ 0.05 %
09 Mar
77.66
10 Mar
76.03
11 Mar
75.97
12 Mar
75.76
13 Mar
74.56
14 Mar
74.42
15 Mar
79.28
16 Mar
78.27
17 Mar
77.02
18 Mar
77.84
19 Mar
77.26
20 Mar
78.55
21 Mar
77.31
22 Mar
77.27
Daily VWAP (Delivered)
$ 19.13 /GJ
▼ 0.26 %
FRMI - (Monthly Price Index)
$ 19.29 /GJ
▲ 0.17 %
FRQI - (Quarterly Price Index)
$ 12.91 /GJ
▲ 1.42 %
Daily Volume (Delivered)
15,150 GJ
▲ 108.82 %
Carbon emissions index
123.29
▼ 0.01 %
HAY ➔ BEN
$ 0.79 /MW
▼ 5.95 %
BEN ➔ HAY
$ 9.53 /MW
▼ 3.64 %
Average Price
$ 270.51 /MWh
▲ 1.95 %
Average Price
$ 269.47 /MWh
▲ 1.43 %
Average Price
$ 271.38 /MWh
▲ 0.37 %
National Demand
207.6 GW
▼ 1.8 %
Daily Volume (Traded)
0 NZU
▼ 100.0 %
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
ECMI (Monthly Price Index)
$ 61.49 NZU
▼ 0.05 %
ECQI (Quarterly Price Index)
$ 62.29 NZU
▼ 0.01 %
167.60 gkWh
▲ 4.09 %
77.27 %
▼ 0.05 %
08 Mar
18.63
09 Mar
18.66
10 Mar
18.92
11 Mar
19.03
12 Mar
18.85
13 Mar
18.16
14 Mar
18.21
15 Mar
17.81
16 Mar
20.76
17 Mar
21.72
18 Mar
20.40
19 Mar
18.48
20 Mar
19.18
21 Mar
19.13
08 Mar
17.13
09 Mar
17.74
10 Mar
18.13
11 Mar
18.19
12 Mar
18.22
13 Mar
18.26
14 Mar
18.28
15 Mar
18.34
16 Mar
18.52
17 Mar
18.84
18 Mar
19.13
19 Mar
19.18
20 Mar
19.25
21 Mar
19.29
08 Mar
11.02
09 Mar
11.21
10 Mar
11.32
11 Mar
11.47
12 Mar
11.61
13 Mar
11.72
14 Mar
11.80
15 Mar
11.96
16 Mar
12.11
17 Mar
12.27
18 Mar
12.40
19 Mar
12.57
20 Mar
12.73
21 Mar
12.91
08 Mar
6,980
09 Mar
14,392
10 Mar
4,580
11 Mar
7,810
12 Mar
6,545
13 Mar
18,170
14 Mar
15,325
15 Mar
16,520
16 Mar
10,100
17 Mar
9,580
18 Mar
8,355
19 Mar
16,320
20 Mar
7,255
21 Mar
15,150
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
Apr 25
2.60
May 25
2.85
Jun 25
2.42
Jul 25
1.14
Aug 25
1.33
Sep 25
2.74
Oct 25
0.80
Nov 25
0.85
Dec 25
0.75
Jan 26
0.66
Feb 26
2.43
Mar 26
1.70
Apr 26
1.27
May 26
1.44
Apr 25
6.39
May 25
4.81
Jun 25
7.09
Jul 25
14.21
Aug 25
12.37
Sep 25
13.73
Oct 25
6.60
Nov 25
5.85
Dec 25
5.77
Jan 26
9.38
Feb 26
30.87
Mar 26
16.64
Apr 26
16.93
May 26
15.79
08 Mar
264.78
09 Mar
279.87
10 Mar
300.78
11 Mar
282.69
12 Mar
342.91
13 Mar
317.33
14 Mar
291.10
15 Mar
228.81
16 Mar
243.37
17 Mar
299.39
18 Mar
286.54
19 Mar
281.88
20 Mar
265.33
21 Mar
270.51
08 Mar
252.60
09 Mar
258.52
10 Mar
298.05
11 Mar
291.81
12 Mar
339.59
13 Mar
311.66
14 Mar
288.37
15 Mar
221.74
16 Mar
237.59
17 Mar
303.88
18 Mar
286.52
19 Mar
281.54
20 Mar
265.67
21 Mar
269.47
08 Mar
266.92
09 Mar
286.53
10 Mar
305.37
11 Mar
288.01
12 Mar
350.15
13 Mar
327.01
14 Mar
292.50
15 Mar
242.83
16 Mar
252.86
17 Mar
309.20
18 Mar
295.56
19 Mar
283.38
20 Mar
270.38
21 Mar
271.38
08 Mar
190.6
09 Mar
186.0
10 Mar
206.6
11 Mar
211.4
12 Mar
214.4
13 Mar
211.0
14 Mar
207.1
15 Mar
190.1
16 Mar
188.7
17 Mar
213.4
18 Mar
215.5
19 Mar
213.7
20 Mar
211.4
21 Mar
207.6
09 Mar
0
10 Mar
0
11 Mar
0
12 Mar
2000
13 Mar
5110
14 Mar
2496
15 Mar
0
16 Mar
0
17 Mar
4152
18 Mar
6029
19 Mar
124
20 Mar
2202
21 Mar
2736
22 Mar
0
08 Mar
0.00
09 Mar
0.00
10 Mar
0.00
11 Mar
0.00
12 Mar
0.00
13 Mar
0.00
14 Mar
0.00
15 Mar
0.00
16 Mar
0.00
17 Mar
0.00
18 Mar
0.00
19 Mar
0.00
20 Mar
0.00
21 Mar
0.00
08 Mar
63.08
09 Mar
63.08
10 Mar
63.04
11 Mar
62.78
12 Mar
62.78
13 Mar
62.75
14 Mar
62.66
15 Mar
62.60
16 Mar
62.59
17 Mar
62.32
18 Mar
62.17
19 Mar
61.86
20 Mar
61.51
21 Mar
61.49
08 Mar
62.80
09 Mar
62.79
10 Mar
62.79
11 Mar
62.77
12 Mar
62.77
13 Mar
62.77
14 Mar
62.75
15 Mar
62.75
16 Mar
62.75
17 Mar
62.65
18 Mar
62.61
19 Mar
62.47
20 Mar
62.29
21 Mar
62.29
09 Mar
167.23
10 Mar
182.14
11 Mar
174.46
12 Mar
178.31
13 Mar
184.34
14 Mar
181.79
15 Mar
144.99
16 Mar
146.63
17 Mar
162.63
18 Mar
153.82
19 Mar
163.16
20 Mar
155.62
21 Mar
161.02
22 Mar
167.60
09 Mar
77.66
10 Mar
76.03
11 Mar
75.97
12 Mar
75.76
13 Mar
74.56
14 Mar
74.42
15 Mar
79.28
16 Mar
78.27
17 Mar
77.02
18 Mar
77.84
19 Mar
77.26
20 Mar
78.55
21 Mar
77.31
22 Mar
77.27
Latest Auction Results
Variation March 2025
Latest Results
Log in to view all resultsHAY ➔ BEN (OPT)
2025 Apr | 2025 May | 2025 Jun | 2025 Oct | 2025 Nov | 2025 Dec |
$2.60 | $2.85 | $2.42 | $0.80 | $0.85 | $0.75 |
BEN ➔ HAY (OPT)
2025 Apr | 2025 May | 2025 Jun | 2025 Oct | 2025 Nov | 2025 Dec |
$6.39 | $4.81 | $7.09 | $6.60 | $5.85 | $5.77 |
Product | Hedge type | 2025 Apr | 2025 May | 2025 Jun | 2025 Oct | 2025 Nov | 2025 Dec |
---|---|---|---|---|---|---|---|
HAY ➔ BEN | OPT | $2.60 | $2.85 | $2.42 | $0.80 | $0.85 | $0.75 |
BEN ➔ HAY | OPT | $6.39 | $4.81 | $7.09 | $6.60 | $5.85 | $5.77 |
Total bids awarded
Latest Auction Stats
Select unit
Last updated 11 a.m. 20 Mar 2025
FTR Manager
Auction Notice
March: Primary
Wed, 12, March 2025
12p.m. - 4:30PM
March: Primary
Wed, 12, March 2025
12PM - 4:30PM
- Jan 2027
- Feb 2027
- Mar 2027
- Apr 2026
- May 2026
- Jun 2026
March: Variation
Wed, 19, March 2025
12p.m. - 4:30PM
March: Variation
Wed, 19, March 2025
12PM - 4:30PM
- Apr 2025
- May 2025
- Jun 2025
- Oct 2025
- Nov 2025
- Dec 2025
Auction Results available 4pm the following day
Last updated 11 a.m. 20 Mar 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