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New Zealand Electricity Market Wrap

April 2025

  • Over the month of April, ASX Otahuhu calendar year 2026 swap price moved up $9.75 to finish the month at $209.06. This is a price separation of -$22.50 from the next calendar year 2027.
  • Over the month of April, ASX Benmore calendar year 2026 swap price moved up $14.26 to finish the month at $179.65. This is a price separation of -$18.16 from the next calendar year 2027.
  • Total traded volume equaled 33,048 lots which is equivalent to 5.3182 million MWh.
  • The daily average traded volume was 1,739.37 lots and total trade volume is down 28.34% from 2024.
  • Total Open interest is 90,032 lots, up 3.98% from 2024
    • Futures OI = 78,602 (down 6.58%)
    • Options OI = 11,430 (up 366.53%)

Contract Month Open High Low Month Close Volume Open Interest
April Otahuhu 310.50 377.70 310.50 319.60 898 1202
April Benmore 292.45 383.00 292.45 324.55 1061 1086
Otahuhu 317.40 390.00 317.40 356.00 1241 993
Benmore 300.40 388.20 300.40 356.00 1141 974
Q2 2025 Otahuhu 312.45 382.40 312.45 344.25 895 5396
Q2 2025 Benmore 296.00 381.30 296.00 342.50 1142 3575