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New Zealand Electricity Market Wrap
May 2026
- Over the month of May, ASX Otahuhu calendar year 2027 swap price moved down $0.70 to finish the month at $142.70. This is a price separation of -$7.46 from the next calendar year 2028.
- Over the month of May, ASX Benmore calendar year 2027 swap price moved down $0.46 to finish the month at $127.59. This is a price separation of -$6.34 from the next calendar year 2028.
- Total traded volume equaled 71,315 lots which is equivalent to 12.1389 million MWh.
- The daily average traded volume was 3,395.95 lots and total trade volume is up 43.77% from 2025.
- Total Open interest is 165,949 lots, up 70.68% from 2025
- Futures OI = 109,264 (up 31.57%)
- Options OI = 56,685 (up 299.61%)
| Contract | Month Open | High | Low | Month Close | Volume | Open Interest |
| May Otahuhu | 113.75 | 113.75 | 72.00 | 81.25 | 1928 | 1489 |
| May Benmore | 104.00 | 104.00 | 67.15 | 75.50 | 2088 | 1389 |
| Otahuhu | 122.30 | 122.30 | 84.30 | 84.30 | 2068 | 1573 |
| Benmore | 113.25 | 113.25 | 76.55 | 76.55 | 2318 | 1513 |
| Q2 2026 Otahuhu | 113.00 | 113.00 | 89.20 | 89.20 | 824 | 5837 |
| Q2 2026 Benmore | 106.00 | 106.00 | 83.60 | 83.60 | 1059 | 4370 |