NEM
NEM Daily analysis

Tuesday 2 June 2026

Trading day 2026-06-02

Market Snapshot

Renewable generation drives significant price reduction across the National Electricity Market

Average regional prices showed a wide spread, ranging from $12.60/MWh in South Australia to $82.50/MWh in Tasmania. Both South Australia and Victoria experienced 19 intervals of negative pricing, with minimum values reaching -$4.00/MWh and -$3.00/MWh respectively. Queensland recorded the highest single interval price of $158.90/MWh during the day.

Renewables contributed 45.1% of the total generation mix, with an instantaneous peak of 54.4% occurring at 11:50. Wind generation provided 28.0% of the total energy, while coal remained the primary source at 48.4%. Solar utility and rooftop solar combined for 12.6% of the daily fuel mix.

Battery storage systems discharged 9,709 MWh into the grid, though the sector remained a net consumer with -2,895 MWh. FCAS costs were most prominent in the Raise Regulation service, totaling $51,998, with Tasmania frequently setting the peak price for frequency services.

Total emissions were recorded at 312,028 tCO2, representing a 17.9% decrease compared to the same day last week. Interconnector flows saw significant movement from Victoria to New South Wales and from South Australia into Victoria to balance regional requirements.

Today · Pre-dispatch forecasts indicate a peak price of $319.04/MWh in Queensland at 19:30 and $145.00/MWh in South Australia at 18:30.

Why it matters · the daily average price fell 45.7% below the seven-day average alongside a 17.9% reduction in weekly emissions

NSW $53VIC $16QLD $74SA $13TAS $83
Numbers-only recap · gemini-3-flash-preview

Prices

Trading day · 04:00 → 04:00 AEST · 30-min average

NSW VIC QLD SA TAS
$0 $25 $50 $75 $100 -$10 $18 $45 $73 $100 $0 $38 $75 $113 $150 -$10 $18 $45 $73 $100 $0 $28 $55 $83 $110 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $53 $53 $24 $97 0 0
QLD $74 $78 $23 $159 0 0
SA $13 $14 -$4 $75 19 0
VIC $16 $18 -$3 $88 19 0
TAS $83 $83 $70 $112 0 0

Min · Max are 5-minute dispatch extremes; the price chart plots 30-minute averages, so its peak reads lower.

Demand

NSW
Peak
10,832MW
18:00
Trough
6,700MW
04:00
Energy
419.0GWh
QLD
Peak
7,685MW
17:40
Trough
3,938MW
11:20
Energy
281.4GWh
SA
Peak
2,092MW
19:05
Trough
1,178MW
13:20
Energy
77.5GWh
VIC
Peak
7,375MW
17:40
Trough
4,190MW
03:55
Energy
283.4GWh
TAS
Peak
1,262MW
08:20
Trough
870MW
01:45
Energy
52.5GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$11,5760$212 June, 14:30
LOWERREG$1,3830$72 June, 21:25
RAISE60SEC$6010$02 June, 17:30
RAISE6SEC$5190$02 June, 17:30
LOWER60SEC$4860$12 June, 13:45
RAISE5MIN$1220$02 June, 17:50
LOWER5MIN$1020$02 June, 15:45
LOWER6SEC$770$02 June, 15:45
Total$14,867

Cost = NSW RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$9,8690$212 June, 14:30
LOWERREG$3,8150$72 June, 21:25
LOWER60SEC$1,1600$12 June, 13:45
RAISE6SEC$8000$02 June, 17:30
RAISE60SEC$7240$02 June, 17:30
RAISE5MIN$1790$02 June, 17:50
LOWER6SEC$1530$02 June, 15:45
LOWER5MIN$1340$02 June, 15:45
Total$16,835

Cost = QLD RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$8,8320$212 June, 14:30
LOWERREG$3,1200$72 June, 21:25
RAISE6SEC$5610$02 June, 17:30
LOWER60SEC$5030$12 June, 13:45
RAISE60SEC$4750$02 June, 17:30
RAISE5MIN$1400$02 June, 17:50
LOWER5MIN$540$02 June, 15:45
LOWER6SEC$480$02 June, 15:45
Total$13,733

Cost = VIC RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$8,3840$212 June, 14:30
LOWERREG$6,2680$72 June, 21:25
LOWER60SEC$6050$12 June, 13:45
RAISE6SEC$3870$02 June, 17:30
RAISE60SEC$3360$02 June, 17:30
RAISE5MIN$870$02 June, 17:50
LOWER6SEC$780$02 June, 15:45
LOWER5MIN$770$02 June, 15:45
Total$16,223

Cost = SA RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$13,3360$302 June, 11:10
RAISE6SEC$9,2380$392 June, 11:10
LOWERREG$4,6170$42 June, 21:40
RAISE60SEC$1,4840$92 June, 08:35
LOWER6SEC$7880$32 June, 11:05
LOWER60SEC$7570$02 June, 06:45
RAISE5MIN$1040$02 June, 06:55
LOWER5MIN$00$02 June, 11:05
Total$30,324

Cost = TAS RRP × cleared MW per 5-min interval.

Battery dispatch

Peak moment

Fleet discharged 873 MW at 18:00 as NSW spot hit $65/MWh.

Peak moment

Fleet discharged 1,017 MW at 18:00 as QLD spot hit $135/MWh.

Peak moment

Fleet discharged 531 MW at 18:30 as VIC spot hit $53/MWh.

Peak moment

Fleet discharged 493 MW at 18:00 as SA spot hit $54/MWh.

Peak moment

Fleet discharged 2,871 MW at 18:00 as TAS spot hit $87/MWh.

Discharged
3,152MWh
peak 873 MW · 18:00
Charged
3,360MWh
peak 845 MW
Net
-208MWh
discharge − charge
Round-trip
94%
discharge / charge ratio
Discharged
3,876MWh
peak 1,017 MW · 18:00
Charged
5,534MWh
peak 826 MW
Net
-1,658MWh
discharge − charge
Round-trip
70%
discharge / charge ratio
Discharged
1,273MWh
peak 531 MW · 18:30
Charged
1,503MWh
peak 377 MW
Net
-230MWh
discharge − charge
Round-trip
85%
discharge / charge ratio
Discharged
1,408MWh
peak 493 MW · 18:00
Charged
2,207MWh
peak 417 MW
Net
-799MWh
discharge − charge
Round-trip
64%
discharge / charge ratio
NEM-wide
Discharged
9,709MWh
peak 2,871 MW · 18:00
Charged
12,604MWh
peak 1,949 MW
Net
-2,895MWh
discharge − charge
Round-trip
77%
discharge / charge ratio

Fleet net dispatch · spot-price overlay · 30-min average

Net MWdischarge ↑ · charge ↓NSWQLDVICSATAS$/MWh
-2.0 GW0 MW2.0 GW4.0 GW-$50$0$50$100$15023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1QLD
3,876MWh
-1,658
#2NSW
3,152MWh
-208
#3SA
1,408MWh
-799
#4VIC
1,273MWh
-230

Generation Mix

TOP FUEL 59.4%
  • Coal59.4% · 124.9 GWh
  • Gas1.4% · 2.9 GWh
  • Hydro5.1% · 10.8 GWh
  • Wind22.6% · 47.7 GWh
  • Solar (utility)4.6% · 9.8 GWh
  • Solar (rooftop)5.2% · 10.9 GWh
  • Battery1.5% · 3.2 GWh
  • Other0.1% · 0.3 GWh
TOP FUEL 54.9%
  • Coal54.9% · 100.0 GWh
  • Gas6.4% · 11.7 GWh
  • Hydro3.2% · 5.9 GWh
  • Wind7.4% · 13.5 GWh
  • Solar (utility)11.9% · 21.7 GWh
  • Solar (rooftop)13.9% · 25.3 GWh
  • Battery2.1% · 3.9 GWh
TOP FUEL 51.4%
  • Coal51.4% · 91.1 GWh
  • Hydro2.8% · 5.0 GWh
  • Wind40.4% · 71.7 GWh
  • Solar (utility)1.0% · 1.7 GWh
  • Solar (rooftop)3.7% · 6.5 GWh
  • Battery0.7% · 1.3 GWh
TOP FUEL 82.9%
  • Gas3.6% · 2.0 GWh
  • Wind82.9% · 46.7 GWh
  • Solar (utility)2.6% · 1.5 GWh
  • Solar (rooftop)8.4% · 4.7 GWh
  • Battery2.5% · 1.4 GWh
TOP FUEL 87.8%
  • Hydro87.8% · 23.4 GWh
  • Wind11.7% · 3.1 GWh
  • Solar (rooftop)0.6% · 0.2 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0011.8 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:009.7 GW 0
coalhydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:008.4 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:002.9 GW 0
hydrowindsolar rooftop
23:3005:3711:4517:5200:001.4 GW 0

Renewables

NSW · Daily renewable share
32.0%
VIC · Daily renewable share
50.7%
QLD · Daily renewable share
30.3%
SA · Daily renewable share
119.2%
TAS · Daily renewable share
89.8%
Peak instantaneous
54.4%
at 11:50
Daily NEM-wide share
45.1%
By region (daily share)
  • NSW
    32.0%
  • VIC
    50.7%
  • QLD
    30.3%
  • SA
    119.2%
  • TAS
    89.8%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +5.3 GWh 6 —
NSW1-QLD1 −43.3 GWh 4 —
VIC1-NSW1 +32.6 GWh 12 —
V-SA +19.6 GWh 0 —
T-V-MNSP1 −5.9 GWh 0 —

Per-region net of NETINTERCHANGE proxied to a representative interconnector. Full per-interconnector decomposition + hours-at-limit needs DINTERCONNECTOR parsing (follow-up).

Emissions

Total emissions
312.0k tCO₂
▼ 17.9% vs same day last week
Intensity by region
NSW 111.4k tCO₂ 0.533 tCO₂/MWh
QLD 93.0k tCO₂ 0.515 tCO₂/MWh
SA 963 tCO₂ 0.017 tCO₂/MWh
VIC 106.7k tCO₂ 0.612 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh