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Managed Services

NZX operates New Zealand's Wholesale Electricity Market, providing services and systems under agreement from the Electricity Authority as a market regulator. NZX performs these activities in accordance with the Electricity Industry Participation Code 2010.

Trading System

NZX operates the trading and information system used to support the 24-hour buying and selling of spot market electricity. The Wholesale Information and Trading System (WITS) processes around 25,000 market orders per day and publishes information such as dispatch schedules, transmission constraints and nodal prices.

WITS Road Map

Telephone: 0800 426 648

Email: wits@nzx.com

Market Pricing

On a daily basis, NZX calculates the half-hour energy and reserve market settlement prices at approximately 270 grid locations. These prices are also used by the sector across a range of areas such as derivative contract valuation and price scenario forecasting. NZX uses a suite of established procedures and analytical tools to ensure a robust and accurate price is calculated.

Pricing Road Map

Pricing Error Claim Template

Telephone: +64 4 498 0028

Email: pm@nzx.com

Reconciliation

NZX is responsible for allocating all quantities of electricity consumed to purchasers and all quantities of electricity supplied to generators. Metering information from market participants is used to scale, calculate and allocate unaccounted for electricity. This quantity information supports monthly spot market settlement.

Reconciliation Road map

Telephone: +64 4 498 0044

Email: rm@nzx.com

Clearing & Settlement

NZX manages the clearing and settlement arrangements for the wholesale market. The Clearing Manager settles monthly all trades on the spot and financial transmission rights markets.

Risk exposure of market participants to the spot market is monitored to ensure sufficient prudential security is available to meet market obligations. Additional security will be required if net exposure exceeds lodged security.

Settling hedge settlement agreements, invoices and calculations of transmission ancillary services are also functions of the Clearing Manager.

For key documents refer to the 'Clearing Manager' tab.

Clearing Road Map

Telephone: +64 4 495 2801

Email: cm@nzx.com

Stress Testing

NZX, as an independent registrar, manages the stress test collection and reporting process. Electricity market participants purchasing electricity from the clearing manager, and consumers directly connected to the national grid, are required under the code to produce a spot price risk disclosure statement no later than five working days before the beginning of the quarter. This disclosure statement is used to indicate their risk exposure to the market spot price.

To register as a disclosing participant, contact the Stress Test Registrar.

Electricity Authority Stress Test Registrar Guidance

Telephone: +64 4 471 4394

Email: stregistrar@nzx.com

Extended Reserve

NZX has been appointed as the extended reserve manager, a new role established by the Electricity Authority. The extended reserve manager will select load with the best relative suitability to provide extended reserve to replace the current automatic under-frequency load shedding (AUFLS).

For additional information on the Extended Reserve visit the project page.

Telephone: +64 4 498 0057

Email: ermanager@nzx.com

Data

NZX Energy provides reporting and data services to industry participants and market observers. Data sets including half-hour nodal prices, supply and demand can be packaged to user specifications.

The Daily Electricity Report summarises key electricity market metrics covering price, demand, supply, transmission and climate.

The Daily Hydrological Summary reports on current and historical hydrology patterns of New Zealand's key generation catchments. This is available by subscription in two formats - a daily and/or access to a 90 year historical database.

Telephone: 0800 426 648

Email: wits@nzx.com