Charts and dashboards

Settlement price changes

Use this chart to compare how settlement prices change over time for different contracts and expiry dates.

  • Prices
  • Futures
  • Forward markets

About settlement price changes

This chart shows how prices for traded electricity contracts change over time. It focuses on New Zealand electricity futures contracts traded on the Australian Securities Exchange (ASX). These contracts are used by electricity market participants to manage price risk.

Settlement prices are set on business days only. If you select a date that is not a business day, the chart will show the settlement price from the most recent business day.

What is a settlement price?

A settlement price is the official price set for each contract at the end of every trading day, even if no trades occurred for that contract that day.

The ASX determines settlement prices according to its Energy Market Policy. The Electricity Authority receives this data from the ASX after trading closes each day.

What contracts are included?

The chart includes contracts with different durations and coverage periods. The ASX uses the following durations:

  • Monthly – cover one month
  • Quarterly – cover three months
  • Calendar‑year – cover a full year (made up of four quarterly contracts).

ASX contracts are traded for two New Zealand locations. The chart shows four location options:

  • Ōtāhuhu – the ASX reference node used for the North Island (OTA2201)
  • Benmore – the ASX reference node used for the South Island (BEN2201)
  • Location difference – the contract price at Ōtāhuhu minus the price at Benmore.

Contracts are introduced several years in advance and can be traded until they expire. Contracts differ by the commodity type:

  • Base load – electricity supplied every hour of the day, across the whole contract period - 0.1MW of electricity per hour for every hour of the contract duration
  • Peak – electricity supplied during busier times only - 0.1MW of electricity between 7.00am and 10.00pm on each business day during the contract period. Peak contracts are available for quarterly durations only.