Friday 12 June 2026
Trading day 2026-06-12
Negative average prices in South Australia and Victoria amid high renewables
Daily average prices varied sharply across the NEM, ranging from 65.40 dollars in New South Wales to -4.60 dollars in South Australia. Victoria recorded the lowest instantaneous price of -614.80 dollars, while Tasmania saw the highest regional peak of 149.40 dollars. Negative pricing was frequent in the southern regions, with South Australia and Victoria combining for 82 negative intervals throughout the day.
System demand peaked in the evening for most regions, with New South Wales reaching 9,503 megawatts at 18:00. Total renewable generation achieved an instantaneous peak of 65.3 percent at 12:25. Wind contributed 24.4 percent of the total fuel mix, while utility and rooftop solar combined for 14.6 percent of daily generation.
Batteries discharged 9,510 megawatt hours to the grid but remained net consumers with a total net flow of -4,169 megawatt hours. FCAS costs were notable in Tasmania, where the RAISE6SEC service peaked at 2,624 dollars across two spike intervals. Interconnector flows showed significant movement from Victoria into New South Wales and from Queensland into New South Wales.
Today · Forward forecasts indicate a peak price of 319.04 dollars in Queensland at 19:30, while other regions expect peaks between 61.84 and 145.00 dollars.
Why it matters · The daily NEM average of 38.70 dollars sits 46.2 percent below the weekly average, breaking a three-day trend of rising prices. This low price environment coincided with a high 45.6 percent renewable share and negative average prices in two regions, despite coal still providing nearly half of the total generation mix.
Prices
Trading day · 04:00 → 04:00 AEST · 30-min average
| Region | Avg | VWAP | Min | Max | Neg | Cap |
|---|---|---|---|---|---|---|
| NSW | $65 | $66 | $38 | $111 | 0 | 0 |
| QLD | $56 | $58 | $10 | $96 | 0 | 0 |
| SA | -$5 | -$5 | -$22 | $26 | 43 | 0 |
| VIC | -$4 | -$3 | -$615 | $88 | 39 | 0 |
| TAS | $61 | $65 | -$15 | $149 | 7 | 0 |
Min · Max are 5-minute dispatch extremes; the price chart plots 30-minute averages, so its peak reads lower.
Demand
FCAS
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $4,574 | 0 | $9 | 12 June, 23:05 |
| LOWERREG | $545 | 0 | $5 | 12 June, 07:40 |
| RAISE6SEC | $171 | 0 | $0 | 12 June, 07:10 |
| RAISE60SEC | $150 | 0 | $0 | 12 June, 08:10 |
| RAISE5MIN | $61 | 0 | $0 | 12 June, 07:25 |
| LOWER60SEC | $17 | 0 | $0 | 12 June, 17:25 |
| LOWER5MIN | $8 | 0 | $0 | 12 June, 09:45 |
| LOWER6SEC | $3 | 0 | $0 | 12 June, 16:55 |
| Total | $5,528 | |||
Cost = NSW RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| LOWER6SEC | $14,992 | 0 | $6 | 12 June, 10:45 |
| LOWER60SEC | $11,917 | 0 | $5 | 12 June, 10:45 |
| RAISEREG | $4,052 | 0 | $9 | 12 June, 23:05 |
| LOWER5MIN | $1,624 | 0 | $1 | 12 June, 15:35 |
| LOWERREG | $1,583 | 0 | $5 | 12 June, 07:50 |
| RAISE6SEC | $344 | 0 | $0 | 12 June, 17:35 |
| RAISE60SEC | $199 | 0 | $0 | 12 June, 17:35 |
| RAISE5MIN | $73 | 0 | $0 | 12 June, 07:25 |
| Total | $34,784 | |||
Cost = QLD RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $7,806 | 0 | $9 | 12 June, 23:05 |
| LOWERREG | $1,484 | 0 | $5 | 12 June, 07:40 |
| RAISE60SEC | $359 | 0 | $0 | 12 June, 08:10 |
| RAISE6SEC | $315 | 0 | $0 | 12 June, 07:10 |
| RAISE5MIN | $89 | 0 | $0 | 12 June, 07:25 |
| LOWER60SEC | $25 | 0 | $0 | 12 June, 17:25 |
| LOWER5MIN | $2 | 0 | $0 | 12 June, 09:45 |
| LOWER6SEC | $2 | 0 | $0 | 12 June, 16:55 |
| Total | $10,081 | |||
Cost = VIC RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $5,390 | 0 | $9 | 12 June, 23:05 |
| LOWERREG | $3,807 | 0 | $5 | 12 June, 07:40 |
| RAISE6SEC | $335 | 0 | $0 | 12 June, 07:10 |
| RAISE60SEC | $275 | 0 | $0 | 12 June, 08:10 |
| RAISE5MIN | $98 | 0 | $0 | 12 June, 07:25 |
| LOWER60SEC | $50 | 0 | $0 | 12 June, 17:25 |
| LOWER5MIN | $16 | 0 | $0 | 12 June, 09:45 |
| LOWER6SEC | $6 | 0 | $0 | 12 June, 16:55 |
| Total | $9,977 | |||
Cost = SA RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISE6SEC | $122,105 | 2 | $2,624 | 12 June, 20:55 |
| RAISEREG | $11,631 | 0 | $71 | 12 June, 18:20 |
| LOWERREG | $9,937 | 0 | $53 | 13 June, 03:30 |
| LOWER6SEC | $9,752 | 0 | $79 | 13 June, 03:30 |
| RAISE60SEC | $2,782 | 0 | $3 | 12 June, 17:50 |
| LOWER60SEC | $1,309 | 0 | $1 | 12 June, 16:45 |
| RAISE5MIN | $417 | 0 | $3 | 12 June, 19:35 |
| LOWER5MIN | $28 | 0 | $1 | 12 June, 08:25 |
| Total | $157,962 | |||
Cost = TAS RRP × cleared MW per 5-min interval.
Battery dispatch
Peak moment
Fleet discharged 686 MW at 18:30 as NSW spot hit $79/MWh.
Peak moment
Fleet discharged 1,178 MW at 18:00 as QLD spot hit $79/MWh.
Peak moment
Fleet discharged 414 MW at 18:00 as VIC spot hit -$90/MWh.
Peak moment
Fleet discharged 111 MW at 21:30 as SA spot hit -$4/MWh.
Peak moment
Fleet discharged 2,306 MW at 18:00 as TAS spot hit $81/MWh.
Fleet net dispatch · spot-price overlay · 30-min average
Regional dispatch ranking
| Region | Discharged | Net |
|---|---|---|
#1QLD | 5,171MWh | -69 |
#2NSW | 3,089MWh | +279 |
#3VIC | 698MWh | -3,113 |
#4SA | 551MWh | -1,266 |
Generation Mix
- Coal63.3% · 117.7 GWh
- Gas3.8% · 7.1 GWh
- Hydro6.6% · 12.2 GWh
- Wind5.2% · 9.6 GWh
- Solar (utility)10.6% · 19.7 GWh
- Solar (rooftop)8.2% · 15.3 GWh
- Battery1.7% · 3.1 GWh
- Other0.7% · 1.2 GWh
- Coal55.2% · 107.9 GWh
- Gas6.4% · 12.5 GWh
- Hydro2.6% · 5.2 GWh
- Wind13.4% · 26.2 GWh
- Solar (utility)9.1% · 17.8 GWh
- Solar (rooftop)10.5% · 20.5 GWh
- Battery2.6% · 5.2 GWh
- Other0.2% · 0.4 GWh
- Coal49.3% · 86.6 GWh
- Gas0.1% · 0.2 GWh
- Hydro0.5% · 0.9 GWh
- Wind41.8% · 73.3 GWh
- Solar (utility)2.6% · 4.6 GWh
- Solar (rooftop)5.3% · 9.3 GWh
- Battery0.4% · 0.7 GWh
- Gas2.9% · 1.3 GWh
- Wind86.4% · 38.0 GWh
- Solar (utility)2.4% · 1.1 GWh
- Solar (rooftop)7.0% · 3.1 GWh
- Battery1.3% · 0.6 GWh
- Hydro77.3% · 21.7 GWh
- Wind21.1% · 5.9 GWh
- Solar (rooftop)1.6% · 0.5 GWh
Renewables
- NSW 26.5%
- VIC 56.7%
- QLD 42.0%
- SA 102.1%
- TAS 91.3%
Interconnectors
| Region (proxy) | Net flow | Direction changes | Hours at limit |
|---|---|---|---|
| N-Q-MNSP1 | +24.1 GWh | 0 | — |
| NSW1-QLD1 | −55.8 GWh | 0 | — |
| VIC1-NSW1 | +41.7 GWh | 0 | — |
| V-SA | −101 MWh | 35 | — |
| T-V-MNSP1 | −4.5 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
| NSW | 107.5k tCO₂ | 0.583 tCO₂/MWh |
| QLD | 99.1k tCO₂ | 0.506 tCO₂/MWh |
| SA | 700 tCO₂ | 0.016 tCO₂/MWh |
| VIC | 101.4k tCO₂ | 0.589 tCO₂/MWh |
| TAS | 0 tCO₂ | 0.000 tCO₂/MWh |