Hedge market summary report – December 2025

Each month the Electricity Authority Te Mana Hiko publishes a 'Hedge market summary report' for the previous calendar month. The December 2025 report is now available on our website.

We publish these reports in the interests of transparency, and to help equip market participants with information about pricing, trading volume, and market trends across the ASX and over-the-counter hedge markets.

One of the many interesting points to note in this report is that throughout December 2025, the ASX future price for all winter quarters increased, especially longer-term winter quarters. The long-dated over-the-counter winter hedge prices also increased.

Previous reports can be accessed at the Hedge market summaries webpage.