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

Daily VWAP (Delivered)
$ 16.52 /GJ
▼ 2.83 %
11 Apr
18.92
12 Apr
17.77
13 Apr
17.60
14 Apr
17.77
15 Apr
18.16
16 Apr
18.22
17 Apr
18.10
18 Apr
17.64
19 Apr
17.13
20 Apr
17.06
21 Apr
16.57
22 Apr
17.60
23 Apr
17.00
24 Apr
16.52
FRMI - (Monthly Price Index)
$ 20.48 /GJ
▼ 0.96 %
11 Apr
21.46
12 Apr
21.42
13 Apr
21.31
14 Apr
21.37
15 Apr
21.29
16 Apr
21.18
17 Apr
21.09
18 Apr
21.13
19 Apr
21.04
20 Apr
21.00
21 Apr
20.83
22 Apr
20.80
23 Apr
20.68
24 Apr
20.48
FRQI - (Quarterly Price Index)
$ 18.68 /GJ
▼ 0.13 %
11 Apr
17.15
12 Apr
17.25
13 Apr
17.36
14 Apr
17.57
15 Apr
17.75
16 Apr
17.90
17 Apr
18.04
18 Apr
18.21
19 Apr
18.41
20 Apr
18.61
21 Apr
18.60
22 Apr
18.68
23 Apr
18.71
24 Apr
18.68
Daily Volume (Delivered)
16,550 GJ
▲ 54.1 %
11 Apr
12,300
12 Apr
11,050
13 Apr
13,990
14 Apr
10,570
15 Apr
11,050
16 Apr
11,580
17 Apr
12,400
18 Apr
8,420
19 Apr
10,930
20 Apr
10,920
21 Apr
19,410
22 Apr
10,740
23 Apr
10,740
24 Apr
16,550
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
$ 3.39 /MW
▲ 30.38 %
May 25
3.39
Jun 25
2.22
Jul 25
1.55
Aug 25
1.33
Sep 25
2.74
Oct 25
0.80
Nov 25
0.90
Dec 25
0.71
Jan 26
0.70
Feb 26
2.43
Mar 26
1.70
Apr 26
1.27
May 26
1.61
Jun 26
1.15
BEN ➔ HAY
$ 3.51 /MW
▼ 45.07 %
May 25
3.51
Jun 25
5.18
Jul 25
5.38
Aug 25
12.37
Sep 25
13.73
Oct 25
6.60
Nov 25
4.83
Dec 25
4.89
Jan 26
6.98
Feb 26
30.87
Mar 26
16.64
Apr 26
16.93
May 26
14.54
Jun 26
16.41
Average Price
$ 293.05 /MWh
▼ 7.9 %
08 Apr
322.00
09 Apr
373.19
10 Apr
368.57
13 Apr
320.73
14 Apr
309.51
15 Apr
315.15
16 Apr
254.97
17 Apr
258.16
18 Apr
281.82
19 Apr
292.42
20 Apr
298.64
21 Apr
336.74
22 Apr
318.18
23 Apr
293.05
Average Price
$ 288.28 /MWh
▼ 12.17 %
08 Apr
326.12
09 Apr
376.23
10 Apr
377.64
13 Apr
311.55
14 Apr
314.10
15 Apr
317.58
16 Apr
258.27
17 Apr
259.21
18 Apr
283.40
19 Apr
285.63
20 Apr
289.69
21 Apr
337.94
22 Apr
328.21
23 Apr
288.28
Average Price
$ 296.77 /MWh
▼ 6.12 %
08 Apr
326.40
09 Apr
367.39
10 Apr
362.62
13 Apr
324.20
14 Apr
315.05
15 Apr
325.55
16 Apr
261.70
17 Apr
280.97
18 Apr
296.39
19 Apr
307.44
20 Apr
306.78
21 Apr
341.26
22 Apr
316.11
23 Apr
296.77
National Demand
214.8 GW
▲ 0.33 %
11 Apr
210.1
12 Apr
191.1
13 Apr
189.5
14 Apr
212.6
15 Apr
218.7
16 Apr
218.4
17 Apr
217.4
18 Apr
193.4
19 Apr
189.5
20 Apr
185.0
21 Apr
191.3
22 Apr
208.6
23 Apr
214.1
24 Apr
214.8
Daily Volume (Traded)
0 NZU
- 0 %
12 Apr
0
13 Apr
0
14 Apr
390
15 Apr
2610
16 Apr
3056
17 Apr
1766
18 Apr
462
19 Apr
0
20 Apr
0
21 Apr
0
22 Apr
0
23 Apr
916
24 Apr
0
25 Apr
0
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
11 Apr
0.00
12 Apr
0.00
13 Apr
0.00
14 Apr
0.00
15 Apr
53.00
16 Apr
0.00
17 Apr
0.00
18 Apr
0.00
19 Apr
0.00
20 Apr
0.00
21 Apr
0.00
22 Apr
0.00
23 Apr
0.00
24 Apr
0.00
ECMI (Monthly Price Index)
$ 55.69 NZU
▼ 0.41 %
11 Apr
58.19
12 Apr
58.19
13 Apr
58.07
14 Apr
58.07
15 Apr
58.06
16 Apr
57.73
17 Apr
57.36
18 Apr
57.17
19 Apr
56.85
20 Apr
56.84
21 Apr
56.84
22 Apr
56.41
23 Apr
55.92
24 Apr
55.69
ECQI (Quarterly Price Index)
$ 59.51 NZU
▼ 0.19 %
11 Apr
60.87
12 Apr
60.87
13 Apr
60.87
14 Apr
60.62
15 Apr
60.61
16 Apr
60.57
17 Apr
60.37
18 Apr
60.37
19 Apr
60.37
20 Apr
60.37
21 Apr
60.37
22 Apr
59.90
23 Apr
59.63
24 Apr
59.51
177.72 gkWh
▲ 8.76 %
12 Apr
174.95
13 Apr
178.46
14 Apr
167.15
15 Apr
159.37
16 Apr
136.15
17 Apr
138.98
18 Apr
114.34
19 Apr
112.47
20 Apr
116.44
21 Apr
123.83
22 Apr
104.07
23 Apr
145.41
24 Apr
163.40
25 Apr
177.72
76.94 %
▼ 1.84 %
12 Apr
76.28
13 Apr
75.54
14 Apr
77.58
15 Apr
78.63
16 Apr
82.38
17 Apr
81.30
18 Apr
85.50
19 Apr
85.10
20 Apr
84.36
21 Apr
82.33
22 Apr
84.04
23 Apr
79.83
24 Apr
78.38
25 Apr
76.94
Daily VWAP (Delivered)
$ 16.52 /GJ
▼ 2.83 %
FRMI - (Monthly Price Index)
$ 20.48 /GJ
▼ 0.96 %
FRQI - (Quarterly Price Index)
$ 18.68 /GJ
▼ 0.13 %
Daily Volume (Delivered)
16,550 GJ
▲ 54.1 %
Carbon emissions index
123.29
▼ 0.01 %
HAY ➔ BEN
$ 0.79 /MW
▼ 5.95 %
BEN ➔ HAY
$ 9.53 /MW
▼ 3.64 %
Average Price
$ 293.05 /MWh
▼ 7.9 %
Average Price
$ 288.28 /MWh
▼ 12.17 %
Average Price
$ 296.77 /MWh
▼ 6.12 %
National Demand
214.8 GW
▲ 0.33 %
Daily Volume (Traded)
0 NZU
- 0 %
Daily VWAP (Traded)
$ 0.00 NZU
- 0 %
ECMI (Monthly Price Index)
$ 55.69 NZU
▼ 0.41 %
ECQI (Quarterly Price Index)
$ 59.51 NZU
▼ 0.19 %
177.72 gkWh
▲ 8.76 %
76.94 %
▼ 1.84 %
11 Apr
18.92
12 Apr
17.77
13 Apr
17.60
14 Apr
17.77
15 Apr
18.16
16 Apr
18.22
17 Apr
18.10
18 Apr
17.64
19 Apr
17.13
20 Apr
17.06
21 Apr
16.57
22 Apr
17.60
23 Apr
17.00
24 Apr
16.52
11 Apr
21.46
12 Apr
21.42
13 Apr
21.31
14 Apr
21.37
15 Apr
21.29
16 Apr
21.18
17 Apr
21.09
18 Apr
21.13
19 Apr
21.04
20 Apr
21.00
21 Apr
20.83
22 Apr
20.80
23 Apr
20.68
24 Apr
20.48
11 Apr
17.15
12 Apr
17.25
13 Apr
17.36
14 Apr
17.57
15 Apr
17.75
16 Apr
17.90
17 Apr
18.04
18 Apr
18.21
19 Apr
18.41
20 Apr
18.61
21 Apr
18.60
22 Apr
18.68
23 Apr
18.71
24 Apr
18.68
11 Apr
12,300
12 Apr
11,050
13 Apr
13,990
14 Apr
10,570
15 Apr
11,050
16 Apr
11,580
17 Apr
12,400
18 Apr
8,420
19 Apr
10,930
20 Apr
10,920
21 Apr
19,410
22 Apr
10,740
23 Apr
10,740
24 Apr
16,550
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
May 25
3.39
Jun 25
2.22
Jul 25
1.55
Aug 25
1.33
Sep 25
2.74
Oct 25
0.80
Nov 25
0.90
Dec 25
0.71
Jan 26
0.70
Feb 26
2.43
Mar 26
1.70
Apr 26
1.27
May 26
1.61
Jun 26
1.15
May 25
3.51
Jun 25
5.18
Jul 25
5.38
Aug 25
12.37
Sep 25
13.73
Oct 25
6.60
Nov 25
4.83
Dec 25
4.89
Jan 26
6.98
Feb 26
30.87
Mar 26
16.64
Apr 26
16.93
May 26
14.54
Jun 26
16.41
08 Apr
322.00
09 Apr
373.19
10 Apr
368.57
13 Apr
320.73
14 Apr
309.51
15 Apr
315.15
16 Apr
254.97
17 Apr
258.16
18 Apr
281.82
19 Apr
292.42
20 Apr
298.64
21 Apr
336.74
22 Apr
318.18
23 Apr
293.05
08 Apr
326.12
09 Apr
376.23
10 Apr
377.64
13 Apr
311.55
14 Apr
314.10
15 Apr
317.58
16 Apr
258.27
17 Apr
259.21
18 Apr
283.40
19 Apr
285.63
20 Apr
289.69
21 Apr
337.94
22 Apr
328.21
23 Apr
288.28
08 Apr
326.40
09 Apr
367.39
10 Apr
362.62
13 Apr
324.20
14 Apr
315.05
15 Apr
325.55
16 Apr
261.70
17 Apr
280.97
18 Apr
296.39
19 Apr
307.44
20 Apr
306.78
21 Apr
341.26
22 Apr
316.11
23 Apr
296.77
11 Apr
210.1
12 Apr
191.1
13 Apr
189.5
14 Apr
212.6
15 Apr
218.7
16 Apr
218.4
17 Apr
217.4
18 Apr
193.4
19 Apr
189.5
20 Apr
185.0
21 Apr
191.3
22 Apr
208.6
23 Apr
214.1
24 Apr
214.8
12 Apr
0
13 Apr
0
14 Apr
390
15 Apr
2610
16 Apr
3056
17 Apr
1766
18 Apr
462
19 Apr
0
20 Apr
0
21 Apr
0
22 Apr
0
23 Apr
916
24 Apr
0
25 Apr
0
11 Apr
0.00
12 Apr
0.00
13 Apr
0.00
14 Apr
0.00
15 Apr
53.00
16 Apr
0.00
17 Apr
0.00
18 Apr
0.00
19 Apr
0.00
20 Apr
0.00
21 Apr
0.00
22 Apr
0.00
23 Apr
0.00
24 Apr
0.00
11 Apr
58.19
12 Apr
58.19
13 Apr
58.07
14 Apr
58.07
15 Apr
58.06
16 Apr
57.73
17 Apr
57.36
18 Apr
57.17
19 Apr
56.85
20 Apr
56.84
21 Apr
56.84
22 Apr
56.41
23 Apr
55.92
24 Apr
55.69
11 Apr
60.87
12 Apr
60.87
13 Apr
60.87
14 Apr
60.62
15 Apr
60.61
16 Apr
60.57
17 Apr
60.37
18 Apr
60.37
19 Apr
60.37
20 Apr
60.37
21 Apr
60.37
22 Apr
59.90
23 Apr
59.63
24 Apr
59.51
12 Apr
174.95
13 Apr
178.46
14 Apr
167.15
15 Apr
159.37
16 Apr
136.15
17 Apr
138.98
18 Apr
114.34
19 Apr
112.47
20 Apr
116.44
21 Apr
123.83
22 Apr
104.07
23 Apr
145.41
24 Apr
163.40
25 Apr
177.72
12 Apr
76.28
13 Apr
75.54
14 Apr
77.58
15 Apr
78.63
16 Apr
82.38
17 Apr
81.30
18 Apr
85.50
19 Apr
85.10
20 Apr
84.36
21 Apr
82.33
22 Apr
84.04
23 Apr
79.83
24 Apr
78.38
25 Apr
76.94
Latest Auction Results
Variation April 2025
Latest Results
Log in to view all resultsHAY ➔ BEN (OPT)
2025 May | 2025 Jun | 2025 Jul | 2025 Nov | 2025 Dec | 2026 Jan |
$3.39 | $2.22 | $1.55 | $0.90 | $0.71 | $0.70 |
BEN ➔ HAY (OPT)
2025 May | 2025 Jun | 2025 Jul | 2025 Nov | 2025 Dec | 2026 Jan |
$3.51 | $5.18 | $5.38 | $4.83 | $4.89 | $6.98 |
Product | Hedge type | 2025 May | 2025 Jun | 2025 Jul | 2025 Nov | 2025 Dec | 2026 Jan |
---|---|---|---|---|---|---|---|
HAY ➔ BEN | OPT | $3.39 | $2.22 | $1.55 | $0.90 | $0.71 | $0.70 |
BEN ➔ HAY | OPT | $3.51 | $5.18 | $5.38 | $4.83 | $4.89 | $6.98 |
Total bids awarded
Latest Auction Stats
Select unit
Last updated 11 a.m. 24 Apr 2025
FTR Manager
Auction Notice
May: Primary
Wed, 14, May 2025
12p.m. - 4:30PM
May: Primary
Wed, 14, May 2025
12PM - 4:30PM
- Jun 2026
- Jul 2026
- Aug 2026
- Apr 2027
- May 2027
- Jun 2027
May: Variation
Wed, 21, May 2025
12p.m. - 4:30PM
May: Variation
Wed, 21, May 2025
12PM - 4:30PM
- Jun 2025
- Jul 2025
- Aug 2025
- Dec 2025
- Jan 2026
- Feb 2026
Auction Results available 4pm the following day
Last updated 11 a.m. 24 Apr 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