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Natural Gas - NGP-TRS 11 Jan 2026

Daily VWAP (Delivered)

$ 6.54 /GJ

▼ 1.37 %

High $ 9.54 /GJ Low $ 6.54 /GJ

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29 Dec

9.34

30 Dec

9.54

31 Dec

9.18

01 Jan

6.55

02 Jan

6.83

03 Jan

7.72

04 Jan

9.06

05 Jan

8.83

06 Jan

8.68

07 Jan

9.16

08 Jan

7.04

09 Jan

6.81

10 Jan

6.63

11 Jan

6.54

Natural Gas - NGP-TRS 11 Jan 2026

FRMI - (Monthly Price Index)

$ 8.61 /GJ

▼ 2.35 %

High $ 9.63 /GJ Low $ 8.61 /GJ

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29 Dec

9.62

30 Dec

9.62

31 Dec

9.63

01 Jan

9.50

02 Jan

9.43

03 Jan

9.37

04 Jan

9.36

05 Jan

9.36

06 Jan

9.33

07 Jan

9.32

08 Jan

9.16

09 Jan

9.01

10 Jan

8.82

11 Jan

8.61

Natural Gas - NGP-TRS 11 Jan 2026

FRQI - (Quarterly Price Index)

$ 10.28 /GJ

▼ 0.72 %

High $ 11.19 /GJ Low $ 10.28 /GJ

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29 Dec

11.19

30 Dec

11.17

31 Dec

11.14

01 Jan

11.01

02 Jan

10.95

03 Jan

10.89

04 Jan

10.83

05 Jan

10.78

06 Jan

10.70

07 Jan

10.63

08 Jan

10.53

09 Jan

10.45

10 Jan

10.36

11 Jan

10.28

Natural Gas - NGP-TRS 11 Jan 2026

Daily Volume (Delivered)

28,810 GJ

▲ 3.52 %

High 37,760.0 GJ Low 15,405.0 GJ

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29 Dec

18,760

30 Dec

16,050

31 Dec

15,405

01 Jan

24,330

02 Jan

18,070

03 Jan

23,560

04 Jan

29,720

05 Jan

26,180

06 Jan

31,557

07 Jan

37,760

08 Jan

34,030

09 Jan

24,950

10 Jan

27,830

11 Jan

28,810

FTR - Clearing Price

BEN ➔ HAY

$ 38.71 /MW

▲ 890.03 %

High $ 38.71 /MW Low $ 6.01 /MW

Feb 26

38.71

Mar 26

11.73

Apr 26

14.07

May 26

10.05

Jun 26

10.50

Jul 26

10.08

Aug 26

9.98

Sep 26

9.73

Oct 26

8.00

Nov 26

8.61

Dec 26

6.50

Jan 27

6.01

Feb 27

32.46

Mar 27

17.51

HAY2201 11 Jan 2026

Average Price

$ 1.44 /MWh

▼ 24.61 %

High $ 4.17 /MWh Low $ 0.01 /MWh

29 Dec

0.24

30 Dec

0.97

31 Dec

1.31

01 Jan

0.01

02 Jan

0.47

03 Jan

0.01

04 Jan

0.41

05 Jan

1.29

06 Jan

2.02

07 Jan

2.21

08 Jan

4.17

09 Jan

2.53

10 Jan

1.91

11 Jan

1.44

OTA2201 11 Jan 2026

Average Price

$ 1.63 /MWh

▼ 23.83 %

High $ 4.72 /MWh Low $ 0.01 /MWh

29 Dec

0.27

30 Dec

1.13

31 Dec

1.47

01 Jan

0.01

02 Jan

0.51

03 Jan

0.01

04 Jan

0.46

05 Jan

1.47

06 Jan

2.39

07 Jan

2.54

08 Jan

4.72

09 Jan

2.87

10 Jan

2.14

11 Jan

1.63

BEN2201 11 Jan 2026

Average Price

$ 1.40 /MWh

▼ 24.73 %

High $ 3.87 /MWh Low $ 0.01 /MWh

29 Dec

0.23

30 Dec

0.93

31 Dec

1.23

01 Jan

0.01

02 Jan

0.44

03 Jan

0.01

04 Jan

0.39

05 Jan

1.20

06 Jan

1.93

07 Jan

2.10

08 Jan

3.87

09 Jan

2.43

10 Jan

1.86

11 Jan

1.40

Electricity 11 Jan 2026

National Demand

200.4 GW

▼ 1.33 %

High 211.6 GW Low 175.0 GW

29 Dec

192.6

30 Dec

195.2

31 Dec

189.3

01 Jan

177.8

02 Jan

176.2

03 Jan

178.0

04 Jan

175.0

05 Jan

192.4

06 Jan

199.9

07 Jan

206.5

08 Jan

210.4

09 Jan

211.6

10 Jan

203.1

11 Jan

200.4

Carbon Units – CP-NZU 12 Jan 2026

Daily Volume (Traded)

0 NZU

- 0 %

High 800 NZU Low 0 NZU

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30 Dec

31 Dec

01 Jan

02 Jan

03 Jan

04 Jan

05 Jan

113

06 Jan

800

07 Jan

08 Jan

09 Jan

600

10 Jan

11 Jan

12 Jan

Carbon Units – CP-NZU 11 Jan 2026

Daily VWAP (Traded)

$ 0.00 NZU

- 0 %

High $ 0.00 NZU Low $ 0.00 NZU

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29 Dec

0.00

30 Dec

0.00

31 Dec

0.00

01 Jan

0.00

02 Jan

0.00

03 Jan

0.00

04 Jan

0.00

05 Jan

0.00

06 Jan

0.00

07 Jan

0.00

08 Jan

0.00

09 Jan

0.00

10 Jan

0.00

11 Jan

0.00

Carbon Units – CP-NZU 11 Jan 2026

ECMI (Monthly Price Index)

$ 39.57 NZU

- 0.0 %

High $ 40.45 NZU Low $ 39.57 NZU

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29 Dec

40.33

30 Dec

40.33

31 Dec

40.33

01 Jan

40.45

02 Jan

40.45

03 Jan

40.45

04 Jan

40.45

05 Jan

40.45

06 Jan

40.45

07 Jan

40.45

08 Jan

40.31

09 Jan

39.65

10 Jan

39.57

11 Jan

39.57

Carbon Units – CP-NZU 11 Jan 2026

ECQI (Quarterly Price Index)

$ 49.78 NZU

- 0.0 %

High $ 51.90 NZU Low $ 49.78 NZU

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29 Dec

51.90

30 Dec

51.67

31 Dec

51.67

01 Jan

51.43

02 Jan

51.43

03 Jan

51.43

04 Jan

51.27

05 Jan

51.27

06 Jan

50.58

07 Jan

50.09

08 Jan

49.78

09 Jan

49.78

10 Jan

49.78

11 Jan

49.78

Carbon Intensity Daily Average 12 Jan 2026

32.55 gkWh

▲ 30.25 %

High 32.55 gkWh Low 23.92 gkWh

More energy data

30 Dec

27.99

31 Dec

28.48

01 Jan

29.86

02 Jan

29.80

03 Jan

28.55

04 Jan

29.31

05 Jan

27.09

06 Jan

25.23

07 Jan

24.41

08 Jan

23.92

09 Jan

25.42

10 Jan

24.38

11 Jan

24.99

12 Jan

32.55

Daily Renewable Generation 12 Jan 2026

97.68 %

▼ 0.96 %

High 98.92 % Low 97.68 %

More energy data

30 Dec

98.10

31 Dec

98.09

01 Jan

98.34

02 Jan

98.68

03 Jan

98.87

04 Jan

98.77

05 Jan

98.83

06 Jan

98.62

07 Jan

98.92

08 Jan

98.74

09 Jan

98.59

10 Jan

98.72

11 Jan

98.63

12 Jan

97.68

Natural Gas - NGP-TRS 11 Jan 2026

Daily VWAP (Delivered)

$ 6.54 /GJ

▼ 1.37 %

Natural Gas - NGP-TRS 11 Jan 2026

FRMI - (Monthly Price Index)

$ 8.61 /GJ

▼ 2.35 %

Natural Gas - NGP-TRS 11 Jan 2026

FRQI - (Quarterly Price Index)

$ 10.28 /GJ

▼ 0.72 %

Natural Gas - NGP-TRS 11 Jan 2026

Daily Volume (Delivered)

28,810 GJ

▲ 3.52 %

FTR - Clearing Price Sep 2023

BEN ➔ HAY

$ 9.53 /MW

▼ 3.64 %

HAY2201 11 Jan 2026

Average Price

$ 1.44 /MWh

▼ 24.61 %

OTA2201 11 Jan 2026

Average Price

$ 1.63 /MWh

▼ 23.83 %

BEN2201 11 Jan 2026

Average Price

$ 1.40 /MWh

▼ 24.73 %

Electricity 11 Jan 2026

National Demand

200.4 GW

▼ 1.33 %

Carbon Units – CP-NZU 12 Jan 2026

Daily Volume (Traded)

0 NZU

- 0 %

Carbon Units – CP-NZU 11 Jan 2026

Daily VWAP (Traded)

$ 0.00 NZU

- 0 %

Carbon Units – CP-NZU 11 Jan 2026

ECMI (Monthly Price Index)

$ 39.57 NZU

- 0.0 %

Carbon Units – CP-NZU 11 Jan 2026

ECQI (Quarterly Price Index)

$ 49.78 NZU

- 0.0 %

Carbon Intensity Daily Average 12 Jan 2026

32.55 gkWh

▲ 30.25 %

Daily Renewable Generation 12 Jan 2026

97.68 %

▼ 0.96 %

High $ 9.54 /GJ Low $ 6.54 /GJ

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29 Dec

9.34

30 Dec

9.54

31 Dec

9.18

01 Jan

6.55

02 Jan

6.83

03 Jan

7.72

04 Jan

9.06

05 Jan

8.83

06 Jan

8.68

07 Jan

9.16

08 Jan

7.04

09 Jan

6.81

10 Jan

6.63

11 Jan

6.54

High $ 9.63 /GJ Low $ 8.61 /GJ

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29 Dec

9.62

30 Dec

9.62

31 Dec

9.63

01 Jan

9.50

02 Jan

9.43

03 Jan

9.37

04 Jan

9.36

05 Jan

9.36

06 Jan

9.33

07 Jan

9.32

08 Jan

9.16

09 Jan

9.01

10 Jan

8.82

11 Jan

8.61

High $ 11.19 /GJ Low $ 10.28 /GJ

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29 Dec

11.19

30 Dec

11.17

31 Dec

11.14

01 Jan

11.01

02 Jan

10.95

03 Jan

10.89

04 Jan

10.83

05 Jan

10.78

06 Jan

10.70

07 Jan

10.63

08 Jan

10.53

09 Jan

10.45

10 Jan

10.36

11 Jan

10.28

High 37,760.0 GJ Low 15,405.0 GJ

download data

29 Dec

18,760

30 Dec

16,050

31 Dec

15,405

01 Jan

24,330

02 Jan

18,070

03 Jan

23,560

04 Jan

29,720

05 Jan

26,180

06 Jan

31,557

07 Jan

37,760

08 Jan

34,030

09 Jan

24,950

10 Jan

27,830

11 Jan

28,810

High $ 38.71 /MW Low $ 6.01 /MW

Feb 26

38.71

Mar 26

11.73

Apr 26

14.07

May 26

10.05

Jun 26

10.50

Jul 26

10.08

Aug 26

9.98

Sep 26

9.73

Oct 26

8.00

Nov 26

8.61

Dec 26

6.50

Jan 27

6.01

Feb 27

32.46

Mar 27

17.51

High $ 4.17 /MWh Low $ 0.01 /MWh

29 Dec

0.24

30 Dec

0.97

31 Dec

1.31

01 Jan

0.01

02 Jan

0.47

03 Jan

0.01

04 Jan

0.41

05 Jan

1.29

06 Jan

2.02

07 Jan

2.21

08 Jan

4.17

09 Jan

2.53

10 Jan

1.91

11 Jan

1.44

High $ 4.72 /MWh Low $ 0.01 /MWh

29 Dec

0.27

30 Dec

1.13

31 Dec

1.47

01 Jan

0.01

02 Jan

0.51

03 Jan

0.01

04 Jan

0.46

05 Jan

1.47

06 Jan

2.39

07 Jan

2.54

08 Jan

4.72

09 Jan

2.87

10 Jan

2.14

11 Jan

1.63

High $ 3.87 /MWh Low $ 0.01 /MWh

29 Dec

0.23

30 Dec

0.93

31 Dec

1.23

01 Jan

0.01

02 Jan

0.44

03 Jan

0.01

04 Jan

0.39

05 Jan

1.20

06 Jan

1.93

07 Jan

2.10

08 Jan

3.87

09 Jan

2.43

10 Jan

1.86

11 Jan

1.40

High 211.6 GW Low 175.0 GW

29 Dec

192.6

30 Dec

195.2

31 Dec

189.3

01 Jan

177.8

02 Jan

176.2

03 Jan

178.0

04 Jan

175.0

05 Jan

192.4

06 Jan

199.9

07 Jan

206.5

08 Jan

210.4

09 Jan

211.6

10 Jan

203.1

11 Jan

200.4

High 800 NZU Low 0 NZU

download data

30 Dec

31 Dec

01 Jan

02 Jan

03 Jan

04 Jan

05 Jan

113

06 Jan

800

07 Jan

08 Jan

09 Jan

600

10 Jan

11 Jan

12 Jan

High $ 0.00 NZU Low $ 0.00 NZU

download data

29 Dec

0.00

30 Dec

0.00

31 Dec

0.00

01 Jan

0.00

02 Jan

0.00

03 Jan

0.00

04 Jan

0.00

05 Jan

0.00

06 Jan

0.00

07 Jan

0.00

08 Jan

0.00

09 Jan

0.00

10 Jan

0.00

11 Jan

0.00

High $ 40.45 NZU Low $ 39.57 NZU

download data

29 Dec

40.33

30 Dec

40.33

31 Dec

40.33

01 Jan

40.45

02 Jan

40.45

03 Jan

40.45

04 Jan

40.45

05 Jan

40.45

06 Jan

40.45

07 Jan

40.45

08 Jan

40.31

09 Jan

39.65

10 Jan

39.57

11 Jan

39.57

High $ 51.90 NZU Low $ 49.78 NZU

download data

29 Dec

51.90

30 Dec

51.67

31 Dec

51.67

01 Jan

51.43

02 Jan

51.43

03 Jan

51.43

04 Jan

51.27

05 Jan

51.27

06 Jan

50.58

07 Jan

50.09

08 Jan

49.78

09 Jan

49.78

10 Jan

49.78

11 Jan

49.78

High 32.55 gkWh Low 23.92 gkWh

More energy data

30 Dec

27.99

31 Dec

28.48

01 Jan

29.86

02 Jan

29.80

03 Jan

28.55

04 Jan

29.31

05 Jan

27.09

06 Jan

25.23

07 Jan

24.41

08 Jan

23.92

09 Jan

25.42

10 Jan

24.38

11 Jan

24.99

12 Jan

32.55

High 98.92 % Low 97.68 %

More energy data

30 Dec

98.10

31 Dec

98.09

01 Jan

98.34

02 Jan

98.68

03 Jan

98.87

04 Jan

98.77

05 Jan

98.83

06 Jan

98.62

07 Jan

98.92

08 Jan

98.74

09 Jan

98.59

10 Jan

98.72

11 Jan

98.63

12 Jan

97.68

Latest Auction Results

Variation December 2025

Latest Results

HAY ➔ BEN (OPT)

2026 Jan	2026 Feb	2026 Mar	2026 Jul	2026 Aug	2026 Sep
$0.17	$2.24	$1.42	$1.05	$0.99	$0.90

BEN ➔ HAY (OPT)

2026 Jan	2026 Feb	2026 Mar	2026 Jul	2026 Aug	2026 Sep
$3.91	$38.71	$11.73	$10.08	$9.98	$9.73

Product	Hedge type	2026 Jan	2026 Feb	2026 Mar	2026 Jul	2026 Aug	2026 Sep
HAY ➔ BEN	OPT	$0.17	$2.24	$1.42	$1.05	$0.99	$0.90
BEN ➔ HAY	OPT	$3.91	$38.71	$11.73	$10.08	$9.98	$9.73

Total bids awarded

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Last updated 2 p.m. 19 Dec 2025

FTR Manager

Auction Notice

January: Primary

Wed, 14, January 2026

12p.m. - 4:30PM

January: Primary

Wed, 14, January 2026

12PM - 4:30PM

Mar 2028
Feb 2028
Jan 2028
Apr 2027
Mar 2027
Feb 2027

January: Variation

Wed, 21, January 2026

12p.m. - 4:30PM

January: Variation

Wed, 21, January 2026

12PM - 4:30PM

Oct 2026
Sep 2026
Aug 2026
Apr 2026
Mar 2026
Feb 2026

Auction Results available by 4pm the following day

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Last updated 2 p.m. 19 Dec 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

Actively manage your risk and exposure

Latest Auction Results

Variation December 2025

Latest Results

HAY ➔ BEN (OPT)

BEN ➔ HAY (OPT)

Total bids awarded

Latest Auction Stats

Last updated 2 p.m. 19 Dec 2025

FTR Manager

Auction Notice

January: Primary

Wed, 14, January 2026

12p.m. - 4:30PM

January: Primary

Wed, 14, January 2026

12PM - 4:30PM

January: Variation

Wed, 21, January 2026

12p.m. - 4:30PM

January: Variation

Wed, 21, January 2026

12PM - 4:30PM

Auction Results available by 4pm the following day

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Last updated 2 p.m. 19 Dec 2025

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