The changes in demand and supply over the course of a day lead to spot prices being different for each half-hour trading period at each grid exit point (GXP) or grid injection point (GIP).

Prices also vary by location - this reflects the costs of getting electricity from its source to its destination.

These prices are derived using models which calculate prices at each node for each trading period based on generator offer prices and quantities, demand, and system conditions.

The prices are given to the clearing manager to use in the clearing and settlement process.

NZX is contracted as pricing manager.

NZX website

The processes followed by the pricing manager in establishing prices are set out in Part 13 of the Code.

More information

For more information contact the pricing manager.

Email: pm@nzx.com