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

Daily VWAP (Delivered)
$ 17.59 /GJ
▲ 4.01 %
08 Feb
13.95
09 Feb
13.33
10 Feb
16.03
11 Feb
15.71
12 Feb
15.68
13 Feb
16.50
14 Feb
16.33
15 Feb
16.01
16 Feb
16.01
17 Feb
16.82
18 Feb
16.70
19 Feb
17.77
20 Feb
16.91
21 Feb
17.59
FRMI - (Monthly Price Index)
$ 14.87 /GJ
▼ 0.52 %
08 Feb
12.21
09 Feb
12.34
10 Feb
12.60
11 Feb
12.83
12 Feb
13.11
13 Feb
13.42
14 Feb
13.85
15 Feb
14.28
16 Feb
14.65
17 Feb
14.76
18 Feb
14.92
19 Feb
14.98
20 Feb
14.95
21 Feb
14.87
FRQI - (Quarterly Price Index)
$ 9.51 /GJ
▲ 0.53 %
08 Feb
8.97
09 Feb
8.97
10 Feb
8.96
11 Feb
8.95
12 Feb
8.99
13 Feb
9.04
14 Feb
9.15
15 Feb
9.24
16 Feb
9.28
17 Feb
9.33
18 Feb
9.35
19 Feb
9.41
20 Feb
9.46
21 Feb
9.51
Daily Volume (Delivered)
1,970 GJ
▲ 0.25 %
08 Feb
1,445
09 Feb
475
10 Feb
3,580
11 Feb
1,890
12 Feb
9,080
13 Feb
9,540
14 Feb
18,420
15 Feb
17,570
16 Feb
7,060
17 Feb
6,530
18 Feb
3,800
19 Feb
6,105
20 Feb
1,965
21 Feb
1,970
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
$ 5.44 /MW
▼ 30.52 %
Mar 25
5.44
Apr 25
2.36
May 25
1.78
Jun 25
0.97
Jul 25
1.14
Aug 25
1.33
Sep 25
2.74
Oct 25
0.71
Nov 25
0.76
Dec 25
0.68
Jan 26
0.66
Feb 26
2.43
Mar 26
1.70
Apr 26
1.52
BEN ➔ HAY
$ 10.00 /MW
▼ 70.31 %
Mar 25
10.00
Apr 25
7.64
May 25
6.35
Jun 25
12.08
Jul 25
14.21
Aug 25
12.37
Sep 25
13.73
Oct 25
7.68
Nov 25
7.61
Dec 25
9.15
Jan 26
9.38
Feb 26
30.87
Mar 26
16.64
Apr 26
16.22
Average Price
$ 198.16 /MWh
▼ 12.67 %
08 Feb
232.17
09 Feb
224.29
10 Feb
310.32
11 Feb
239.78
12 Feb
270.87
13 Feb
282.50
14 Feb
293.53
15 Feb
271.13
16 Feb
264.80
17 Feb
257.10
18 Feb
259.02
19 Feb
214.32
20 Feb
226.90
21 Feb
198.16
Average Price
$ 211.22 /MWh
▼ 9.32 %
08 Feb
231.02
09 Feb
226.47
10 Feb
323.09
11 Feb
257.21
12 Feb
277.97
13 Feb
295.55
14 Feb
302.40
15 Feb
268.96
16 Feb
257.03
17 Feb
267.88
18 Feb
263.48
19 Feb
218.80
20 Feb
232.94
21 Feb
211.22
Average Price
$ 233.16 /MWh
▼ 5.94 %
08 Feb
218.10
09 Feb
226.91
10 Feb
304.90
11 Feb
238.15
12 Feb
267.52
13 Feb
275.84
14 Feb
289.61
15 Feb
271.78
16 Feb
268.01
17 Feb
255.68
18 Feb
258.34
19 Feb
218.57
20 Feb
247.89
21 Feb
233.16
National Demand
210.8 GW
▼ 3.21 %
08 Feb
195.9
09 Feb
197.9
10 Feb
219.2
11 Feb
218.6
12 Feb
215.4
13 Feb
218.1
14 Feb
215.2
15 Feb
196.3
16 Feb
195.4
17 Feb
220.2
18 Feb
221.0
19 Feb
217.6
20 Feb
217.8
21 Feb
210.8
Daily Volume (Traded)
0 NZU
▼ 100.0 %
09 Feb
0
10 Feb
4916
11 Feb
574
12 Feb
771
13 Feb
0
14 Feb
600
15 Feb
0
16 Feb
0
17 Feb
0
18 Feb
100
19 Feb
3988
20 Feb
1186
21 Feb
2132
22 Feb
0
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
08 Feb
0.00
09 Feb
0.00
10 Feb
0.00
11 Feb
0.00
12 Feb
0.00
13 Feb
0.00
14 Feb
0.00
15 Feb
0.00
16 Feb
0.00
17 Feb
0.00
18 Feb
0.00
19 Feb
63.70
20 Feb
0.00
21 Feb
0.00
ECMI (Monthly Price Index)
$ 63.17 NZU
▲ 0.01 %
08 Feb
62.79
09 Feb
62.79
10 Feb
63.06
11 Feb
63.07
12 Feb
63.11
13 Feb
63.10
14 Feb
63.10
15 Feb
63.10
16 Feb
63.10
17 Feb
63.10
18 Feb
63.12
19 Feb
63.13
20 Feb
63.16
21 Feb
63.17
ECQI (Quarterly Price Index)
$ 62.85 NZU
▼ 0.0 %
08 Feb
62.93
09 Feb
62.92
10 Feb
62.93
11 Feb
62.92
12 Feb
62.92
13 Feb
62.92
14 Feb
62.92
15 Feb
62.92
16 Feb
62.90
17 Feb
62.89
18 Feb
62.85
19 Feb
62.85
20 Feb
62.85
21 Feb
62.85
129.35 gkWh
▲ 25.55 %
09 Feb
134.30
10 Feb
133.17
11 Feb
128.77
12 Feb
149.58
13 Feb
154.76
14 Feb
158.60
15 Feb
143.46
16 Feb
166.96
17 Feb
155.80
18 Feb
156.74
19 Feb
147.52
20 Feb
140.42
21 Feb
103.03
22 Feb
129.35
81.43 %
▼ 3.68 %
09 Feb
80.79
10 Feb
80.99
11 Feb
81.73
12 Feb
79.16
13 Feb
79.28
14 Feb
78.64
15 Feb
79.50
16 Feb
77.20
17 Feb
79.09
18 Feb
78.86
19 Feb
80.30
20 Feb
80.74
21 Feb
84.54
22 Feb
81.43
Daily VWAP (Delivered)
$ 17.59 /GJ
▲ 4.01 %
FRMI - (Monthly Price Index)
$ 14.87 /GJ
▼ 0.52 %
FRQI - (Quarterly Price Index)
$ 9.51 /GJ
▲ 0.53 %
Daily Volume (Delivered)
1,970 GJ
▲ 0.25 %
Carbon emissions index
123.29
▼ 0.01 %
HAY ➔ BEN
$ 0.79 /MW
▼ 5.95 %
BEN ➔ HAY
$ 9.53 /MW
▼ 3.64 %
Average Price
$ 198.16 /MWh
▼ 12.67 %
Average Price
$ 211.22 /MWh
▼ 9.32 %
Average Price
$ 233.16 /MWh
▼ 5.94 %
National Demand
210.8 GW
▼ 3.21 %
Daily Volume (Traded)
0 NZU
▼ 100.0 %
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
ECMI (Monthly Price Index)
$ 63.17 NZU
▲ 0.01 %
ECQI (Quarterly Price Index)
$ 62.85 NZU
▼ 0.0 %
129.35 gkWh
▲ 25.55 %
81.43 %
▼ 3.68 %
08 Feb
13.95
09 Feb
13.33
10 Feb
16.03
11 Feb
15.71
12 Feb
15.68
13 Feb
16.50
14 Feb
16.33
15 Feb
16.01
16 Feb
16.01
17 Feb
16.82
18 Feb
16.70
19 Feb
17.77
20 Feb
16.91
21 Feb
17.59
08 Feb
12.21
09 Feb
12.34
10 Feb
12.60
11 Feb
12.83
12 Feb
13.11
13 Feb
13.42
14 Feb
13.85
15 Feb
14.28
16 Feb
14.65
17 Feb
14.76
18 Feb
14.92
19 Feb
14.98
20 Feb
14.95
21 Feb
14.87
08 Feb
8.97
09 Feb
8.97
10 Feb
8.96
11 Feb
8.95
12 Feb
8.99
13 Feb
9.04
14 Feb
9.15
15 Feb
9.24
16 Feb
9.28
17 Feb
9.33
18 Feb
9.35
19 Feb
9.41
20 Feb
9.46
21 Feb
9.51
08 Feb
1,445
09 Feb
475
10 Feb
3,580
11 Feb
1,890
12 Feb
9,080
13 Feb
9,540
14 Feb
18,420
15 Feb
17,570
16 Feb
7,060
17 Feb
6,530
18 Feb
3,800
19 Feb
6,105
20 Feb
1,965
21 Feb
1,970
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
5.44
Apr 25
2.36
May 25
1.78
Jun 25
0.97
Jul 25
1.14
Aug 25
1.33
Sep 25
2.74
Oct 25
0.71
Nov 25
0.76
Dec 25
0.68
Jan 26
0.66
Feb 26
2.43
Mar 26
1.70
Apr 26
1.52
Mar 25
10.00
Apr 25
7.64
May 25
6.35
Jun 25
12.08
Jul 25
14.21
Aug 25
12.37
Sep 25
13.73
Oct 25
7.68
Nov 25
7.61
Dec 25
9.15
Jan 26
9.38
Feb 26
30.87
Mar 26
16.64
Apr 26
16.22
08 Feb
232.17
09 Feb
224.29
10 Feb
310.32
11 Feb
239.78
12 Feb
270.87
13 Feb
282.50
14 Feb
293.53
15 Feb
271.13
16 Feb
264.80
17 Feb
257.10
18 Feb
259.02
19 Feb
214.32
20 Feb
226.90
21 Feb
198.16
08 Feb
231.02
09 Feb
226.47
10 Feb
323.09
11 Feb
257.21
12 Feb
277.97
13 Feb
295.55
14 Feb
302.40
15 Feb
268.96
16 Feb
257.03
17 Feb
267.88
18 Feb
263.48
19 Feb
218.80
20 Feb
232.94
21 Feb
211.22
08 Feb
218.10
09 Feb
226.91
10 Feb
304.90
11 Feb
238.15
12 Feb
267.52
13 Feb
275.84
14 Feb
289.61
15 Feb
271.78
16 Feb
268.01
17 Feb
255.68
18 Feb
258.34
19 Feb
218.57
20 Feb
247.89
21 Feb
233.16
08 Feb
195.9
09 Feb
197.9
10 Feb
219.2
11 Feb
218.6
12 Feb
215.4
13 Feb
218.1
14 Feb
215.2
15 Feb
196.3
16 Feb
195.4
17 Feb
220.2
18 Feb
221.0
19 Feb
217.6
20 Feb
217.8
21 Feb
210.8
09 Feb
0
10 Feb
4916
11 Feb
574
12 Feb
771
13 Feb
0
14 Feb
600
15 Feb
0
16 Feb
0
17 Feb
0
18 Feb
100
19 Feb
3988
20 Feb
1186
21 Feb
2132
22 Feb
0
08 Feb
0.00
09 Feb
0.00
10 Feb
0.00
11 Feb
0.00
12 Feb
0.00
13 Feb
0.00
14 Feb
0.00
15 Feb
0.00
16 Feb
0.00
17 Feb
0.00
18 Feb
0.00
19 Feb
63.70
20 Feb
0.00
21 Feb
0.00
08 Feb
62.79
09 Feb
62.79
10 Feb
63.06
11 Feb
63.07
12 Feb
63.11
13 Feb
63.10
14 Feb
63.10
15 Feb
63.10
16 Feb
63.10
17 Feb
63.10
18 Feb
63.12
19 Feb
63.13
20 Feb
63.16
21 Feb
63.17
08 Feb
62.93
09 Feb
62.92
10 Feb
62.93
11 Feb
62.92
12 Feb
62.92
13 Feb
62.92
14 Feb
62.92
15 Feb
62.92
16 Feb
62.90
17 Feb
62.89
18 Feb
62.85
19 Feb
62.85
20 Feb
62.85
21 Feb
62.85
09 Feb
134.30
10 Feb
133.17
11 Feb
128.77
12 Feb
149.58
13 Feb
154.76
14 Feb
158.60
15 Feb
143.46
16 Feb
166.96
17 Feb
155.80
18 Feb
156.74
19 Feb
147.52
20 Feb
140.42
21 Feb
103.03
22 Feb
129.35
09 Feb
80.79
10 Feb
80.99
11 Feb
81.73
12 Feb
79.16
13 Feb
79.28
14 Feb
78.64
15 Feb
79.50
16 Feb
77.20
17 Feb
79.09
18 Feb
78.86
19 Feb
80.30
20 Feb
80.74
21 Feb
84.54
22 Feb
81.43
Latest Auction Results
Variation February 2025
Latest Results
Log in to view all resultsHAY ➔ BEN (OPT)
2025 Mar | 2025 Apr | 2025 May | 2025 Sep | 2025 Oct | 2025 Nov |
$5.44 | $2.36 | $1.78 | $2.74 | $0.71 | $0.76 |
BEN ➔ HAY (OPT)
2025 Mar | 2025 Apr | 2025 May | 2025 Sep | 2025 Oct | 2025 Nov |
$10.00 | $7.64 | $6.35 | $13.73 | $7.68 | $7.61 |
Product | Hedge type | 2025 Mar | 2025 Apr | 2025 May | 2025 Sep | 2025 Oct | 2025 Nov |
---|---|---|---|---|---|---|---|
HAY ➔ BEN | OPT | $5.44 | $2.36 | $1.78 | $2.74 | $0.71 | $0.76 |
BEN ➔ HAY | OPT | $10.00 | $7.64 | $6.35 | $13.73 | $7.68 | $7.61 |
Total bids awarded
Latest Auction Stats
Select unit
Last updated 12 p.m. 20 Feb 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 12 p.m. 20 Feb 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