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New Zealand Electricity Market Wrap
March 2026
- Over the month of March, ASX Otahuhu calendar year 2027 swap price moved up $1.35 to finish the month at $157.56. This is a price separation of -$11.04 from the next calendar year 2028.
- Over the month of March, ASX Benmore calendar year 2027 swap price moved up $1.86 to finish the month at $137.48. This is a price separation of -$11.60 from the next calendar year 2028.
- Total traded volume equaled 87,708 lots which is equivalent to 15.3714 million MWh.
- The daily average traded volume was 3,986.73 lots and total trade volume is up 130.52% from 2025.
- Total Open interest is 164,465 lots, up 66.70% from 2025
- Futures OI = 110,450 (up 30.26%)
- Options OI = 54,015 (up 289.44%)
| Contract | Month Open | High | Low | Month Close | Volume | Open Interest |
| March Otahuhu | 109.40 | 153.50 | 98.25 | 152.55 | 1776 | 2281 |
| March Benmore | 98.10 | 144.00 | 85.20 | 141.40 | 1628 | 2143 |
| Otahuhu | 155.15 | 199.50 | 142.90 | 169.65 | 2812 | 1559 |
| Benmore | 138.60 | 190.20 | 130.50 | 157.00 | 3339 | 1690 |
| Q1 2026 Otahuhu | 55.00 | 70.10 | 51.10 | 69.80 | 1068 | 6120 |
| Q1 2026 Benmore | 46.00 | 61.90 | 41.65 | 61.00 | 1026 | 5118 |