Wholesale information and trading system (WITS)
The wholesale information and trading system (we call it WITS for short) is used by industry participants to upload their bids and offers.
A free version of WITS makes information on pricing, demand and hydro lake levels available to any interested party.
WITS also provides pricing, scheduling and other market data.
Information on WITS is only available to industry participants who trade in the electricity wholesale market or by special arrangement with NZX.
The platform is run by NZX, as the contracted WITS manager.
What WITS does
WITS is designed to act as a central facility for the receiving and publishing of information between and on behalf of industry participants in the wholesale electricity market.
Purchasers and generators send their bids and offers for energy and reserves to WITS. WITS then validates the bids and offers and sends them to the system operator for use in the scheduling and dispatch process.
When the resulting electricity prices (forecast prices) and quantities have been calculated, the system operator sends these back to WITS – who publishes them for industry participants.
The pricing manager sends provisional, interim and final prices to WITS for publication to the market.
The clearing manager sends constrained on/off amounts and block settlement differences to WITS for publication to the market. The clearing manager also sends invoices to WITS for distribution to participants.
WITS also compiles compliance information and sends it to us.
WITS processes and requirements are set out in Part 13 of the Code.
How to apply to access WITS
Only industry participants can access WITS and must apply directly to us using the application form.
New users must also sign a Use of System Agreement with NXZ.
Last updated: 19th August 2016
Return the completed form to our market operations team with the subject header 'WITS application'.