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New Zealand Electricity Market Wrap
September 2025
- Over the month of September, ASX Otahuhu calendar year 2026 swap price moved down $10.38 to finish the month at $194.45. This is a price separation of -$15.80 from the next calendar year 2027.
- Over the month of September, ASX Benmore calendar year 2026 swap price moved down $11.05 to finish the month at $169.63. This is a price separation of -$12.61 from the next calendar year 2027.
- Total traded volume equaled 57,389 lots which is equivalent to 9.1104 million MWh.
- The daily average traded volume was 2,608.59 lots and total trade volume is up 11.21% from 2024.
- Total Open interest is 115,404 lots, up 15.12% from 2024
- Futures OI = 88,369 (down 6.83%)
- Options OI = 27,035 (up 400.65%)
Contract | Month Open | High | Low | Month Close | Volume | Open Interest |
September Otahuhu | 160.00 | 181.95 | 115.75 | 115.75 | 1000 | 1183 |
September Benmore | 156.55 | 174.00 | 113.25 | 113.25 | 1081 | 1521 |
Otahuhu | 160.00 | 176.45 | 62.75 | 73.65 | 2611 | 1135 |
Benmore | 144.95 | 165.25 | 53.40 | 67.50 | 2388 | 870 |
Q3 2025 Otahuhu | 147.00 | 156.00 | 133.60 | 133.60 | 220 | 5206 |
Q3 2025 Benmore | 143.00 | 148.30 | 128.30 | 128.30 | 219 | 3500 |