As operator of the New Zealand electricity market, NZX provides a suite of managed services and systems under contract to the market regulator, the Electricity Authority. NZX performs these activities in accordance with the Electricity Industry Participation Code 2010.
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.
Telephone: 0800 426 648
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.
Telephone: +64 4 498 0028
In our reconciliation role, NZX is responsible for allocating all quantities of electricity consumed to purchasers and all quantities of electricity supplied to generators. We use the metering information supplied by market participants to scale, calculate and allocate unaccounted for electricity. Quantity information calculated in this process is used for monthly spot market settlement.
For Reconciliation strategy and road map, see:
RM road map v1
RM trade notification recommendations paper
Telephone: +64 4 498 0044
Clearing & Settlement
NZX manages the clearing and settlement arrangements for the wholesale market. This entails the monthly settlement of all trades on the spot and financial transmission rights markets, and the billing for all transmission ancillary services. In addition, NZX actively monitors the risk exposure market participants have to the spot market and ensures sufficient prudential security is available to meet their market obligations.
For additional information on Clearing and Settlement activities see:
Prudential Assessment Methodologies
Settlement and Prudential Security (SPS) Arrangements in effect 24 March 2015.
For Clearing strategy and road map, see:
CM Road Map v1
Telephone: +64 4 495 2801
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. For further details read our basic guidance on completing and submitting a disclosure statement or see the Electricity Authority website.
Telephone: +64 4 471 4394
NZX's role as Extended Reserve Manager (ERM) is to select and monitor blocks of load that can be automatically disconnected during large under-frequency events in the electricity system.
Telephone: +64 4 498 0057
User group meeting
NZX holds user group meetings to update industry participants and discuss current issues regarding different services we provide. The next meeting is scheduled for 23 May 2017.
For more details, see:
May 2017 user group meeting