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New Zealand Electricity Market Wrap
October 2025
- Over the month of October, ASX Otahuhu calendar year 2026 swap price moved down $8.35 to finish the month at $188.94. This is a price separation of -$11.07 from the next calendar year 2027.
- Over the month of October, ASX Benmore calendar year 2026 swap price moved down $7.08 to finish the month at $163.83. This is a price separation of -$8.24 from the next calendar year 2027.
- Total traded volume equaled 55,132 lots which is equivalent to 8.7116 million MWh.
- The daily average traded volume was 2,506.00 lots and total trade volume is up 9.76% from 2024.
- Total Open interest is 112,510 lots, up 16.14% from 2024
- Futures OI = 88,210 (down 3.04%)
- Options OI = 24,300 (up 311.86%)
| Contract | Month Open | High | Low | Month Close | Volume | Open Interest |
| October Otahuhu | 78.15 | 78.15 | 31.15 | 34.05 | 2277 | 1610 |
| October Benmore | 66.50 | 66.50 | 26.65 | 28.50 | 1670 | 1036 |
| Otahuhu | 119.20 | 119.20 | 64.45 | 70.55 | 2845 | 2216 |
| Benmore | 97.30 | 97.30 | 49.65 | 52.70 | 2700 | 1249 |
| Q4 2025 Otahuhu | 97.00 | 97.00 | 55.00 | 61.00 | 1900 | 4718 |
| Q4 2025 Benmore | 81.00 | 81.00 | 44.65 | 48.50 | 2027 | 3363 |