NEM
NEM Daily analysis

Thursday 18 June 2026

Trading day 2026-06-18

Market Snapshot

South Australia records negative average daily price amid high renewable generation

Regional price spreads were significant, ranging from -$0.90/MWh in South Australia to $59.20/MWh in Queensland. Victoria also recorded a low average of $4.00/MWh, influenced by 21 negative price intervals throughout the day. New South Wales and Tasmania remained higher at $56.60/MWh and $26.60/MWh respectively.

Demand peaked across all regions between 17:55 and 18:35, with New South Wales reaching a maximum load of 10,055 MW. Total system energy requirements were met by a generation mix led by coal at 47.3% and wind at 28.7%. Solar sources contributed a combined 11.1% of the total energy mix.

Batteries discharged 6,462 MWh to the grid but remained net consumers with a total net flow of -3,464 MWh. FCAS costs were concentrated in Tasmania and South Australia, with the Raise 6 Second service in Tasmania peaking at $104.00/MWh. Interconnector flows saw 35,037 MWh move from Victoria to New South Wales.

Today · Forward projections indicate a peak price of $319.04/MWh in Queensland at 19:30, while New South Wales is forecast to peak at $98.25/MWh.

Why it matters · The daily average price of $30.70/MWh sits 43.6% below the weekly average, extending a downward trend over the last three days. This price collapse in southern regions occurred despite evening demand peaks, as a 45.5% renewable share and high wind output suppressed volatility.

NSW $57VIC $4QLD $59SA $-1TAS $27
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 $25 $50 $75 $100 -$20 $10 $40 $70 $100 $0 $25 $50 $75 $100 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $57 $57 $39 $81 0 0
QLD $59 $60 $35 $90 0 0
SA -$1 $0 -$20 $17 36 0
VIC $4 $5 -$4 $37 21 0
TAS $27 $28 $0 $78 0 0

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

Demand

NSW
Peak
10,055MW
17:55
Trough
6,614MW
03:40
Energy
390.3GWh
QLD
Peak
7,826MW
18:00
Trough
5,348MW
11:05
Energy
305.3GWh
SA
Peak
2,210MW
18:35
Trough
933MW
13:50
Energy
76.9GWh
VIC
Peak
7,139MW
18:00
Trough
4,198MW
04:05
Energy
275.2GWh
TAS
Peak
1,256MW
17:55
Trough
893MW
00:45
Energy
52.6GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$6,9200$1118 June, 14:45
LOWERREG$8300$518 June, 19:55
RAISE6SEC$1860$018 June, 05:35
RAISE60SEC$1620$018 June, 05:35
RAISE5MIN$730$018 June, 06:45
LOWER60SEC$300$019 June, 02:25
LOWER5MIN$250$018 June, 04:35
LOWER6SEC$80$018 June, 04:20
Total$8,235

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

ServiceCostSpikesPeakWhen
RAISEREG$7,5530$1118 June, 14:45
LOWER6SEC$2,8200$218 June, 04:10
LOWER60SEC$2,5040$218 June, 04:10
LOWERREG$2,0650$518 June, 19:55
RAISE6SEC$2340$018 June, 05:35
LOWER5MIN$2310$019 June, 03:20
RAISE60SEC$1830$018 June, 05:35
RAISE5MIN$640$018 June, 06:45
Total$15,653

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

ServiceCostSpikesPeakWhen
RAISEREG$8,8010$1118 June, 14:45
LOWERREG$1,4520$518 June, 19:55
RAISE60SEC$3090$018 June, 05:35
RAISE6SEC$2750$018 June, 05:35
RAISE5MIN$980$018 June, 06:45
LOWER60SEC$220$019 June, 02:25
LOWER5MIN$120$018 June, 04:35
LOWER6SEC$40$018 June, 04:20
Total$10,972

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

ServiceCostSpikesPeakWhen
RAISEREG$8,2770$1118 June, 14:45
LOWERREG$5,3520$518 June, 19:55
LOWER60SEC$5,3040$2718 June, 14:45
LOWER6SEC$2,7950$518 June, 10:10
LOWER5MIN$2940$018 June, 10:10
RAISE6SEC$2830$018 June, 05:35
RAISE60SEC$2400$018 June, 05:35
RAISE5MIN$1020$018 June, 06:45
Total$22,646

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

ServiceCostSpikesPeakWhen
RAISE6SEC$33,1220$10418 June, 08:55
LOWERREG$8,6020$7518 June, 07:10
RAISEREG$7,9910$2818 June, 07:35
LOWER6SEC$4,8990$318 June, 05:05
RAISE60SEC$3,2090$2518 June, 07:35
LOWER60SEC$2,2770$318 June, 06:05
RAISE5MIN$5490$218 June, 21:25
LOWER5MIN$790$018 June, 04:05
Total$60,727

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

Battery dispatch

Peak moment

Fleet discharged 223 MW at 08:00 as NSW spot hit $75/MWh.

Peak moment

Fleet discharged 958 MW at 17:30 as QLD spot hit $81/MWh.

Peak moment

Fleet discharged 359 MW at 19:30 as VIC spot hit $10/MWh.

Peak moment

Fleet discharged 102 MW at 18:30 as SA spot hit $10/MWh.

Peak moment

Fleet discharged 1,356 MW at 18:00 as TAS spot hit $31/MWh.

Discharged
829MWh
peak 223 MW · 08:00
Charged
1,679MWh
peak 393 MW
Net
-850MWh
discharge − charge
Round-trip
49%
discharge / charge ratio
Discharged
3,694MWh
peak 958 MW · 17:30
Charged
3,807MWh
peak 701 MW
Net
-113MWh
discharge − charge
Round-trip
97%
discharge / charge ratio
Discharged
1,427MWh
peak 359 MW · 19:30
Charged
2,873MWh
peak 679 MW
Net
-1,446MWh
discharge − charge
Round-trip
50%
discharge / charge ratio
Discharged
511MWh
peak 102 MW · 18:30
Charged
1,568MWh
peak 291 MW
Net
-1,057MWh
discharge − charge
Round-trip
33%
discharge / charge ratio
NEM-wide
Discharged
6,462MWh
peak 1,356 MW · 18:00
Charged
9,926MWh
peak 1,337 MW
Net
-3,464MWh
discharge − charge
Round-trip
65%
discharge / charge ratio

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

Net MWdischarge ↑ · charge ↓NSWQLDVICSATAS$/MWh
-2.0 GW-1.0 GW0 MW1.0 GW2.0 GW-$50$0$50$10023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1QLD
3,694MWh
-113
#2VIC
1,427MWh
-1,446
#3NSW
829MWh
-850
#4SA
511MWh
-1,057

Generation Mix

TOP FUEL 58.7%
  • Coal58.7% · 114.7 GWh
  • Gas6.4% · 12.5 GWh
  • Hydro5.3% · 10.4 GWh
  • Wind16.0% · 31.2 GWh
  • Solar (utility)5.3% · 10.4 GWh
  • Solar (rooftop)7.9% · 15.4 GWh
  • Battery0.4% · 0.8 GWh
TOP FUEL 58.4%
  • Coal58.4% · 107.3 GWh
  • Gas12.7% · 23.4 GWh
  • Hydro1.6% · 2.9 GWh
  • Wind8.5% · 15.6 GWh
  • Solar (utility)7.5% · 13.9 GWh
  • Solar (rooftop)8.9% · 16.4 GWh
  • Battery2.0% · 3.7 GWh
  • Other0.4% · 0.7 GWh
TOP FUEL 50.6%
  • Coal44.4% · 76.1 GWh
  • Hydro0.6% · 1.0 GWh
  • Wind50.6% · 86.7 GWh
  • Solar (utility)1.4% · 2.3 GWh
  • Solar (rooftop)2.1% · 3.6 GWh
  • Battery0.8% · 1.4 GWh
TOP FUEL 79.3%
  • Gas4.4% · 2.2 GWh
  • Wind79.3% · 40.0 GWh
  • Solar (utility)3.2% · 1.6 GWh
  • Solar (rooftop)12.1% · 6.1 GWh
  • Battery1.0% · 0.5 GWh
TOP FUEL 74.8%
  • Hydro74.8% · 22.2 GWh
  • Wind24.6% · 7.3 GWh
  • Solar (rooftop)0.6% · 0.2 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:009.5 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:008.9 GW 0
coalhydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:008.6 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:002.6 GW 0
hydrowindsolar rooftop
23:3005:3711:4517:5200:001.4 GW 0

Renewables

NSW · Daily renewable share
29.8%
VIC · Daily renewable share
61.5%
QLD · Daily renewable share
29.7%
SA · Daily renewable share
103.5%
TAS · Daily renewable share
98.7%
Peak instantaneous
64.2%
at 12:50
Daily NEM-wide share
45.5%
By region (daily share)
  • NSW
    29.8%
  • VIC
    61.5%
  • QLD
    29.7%
  • SA
    103.5%
  • TAS
    98.7%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +9.2 GWh 16 —
NSW1-QLD1 −48.8 GWh 0 —
VIC1-NSW1 +35.0 GWh 0 —
V-SA +10.9 GWh 6 —
T-V-MNSP1 −635 MWh 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
301.8k tCO₂
▼ 22.3% vs same day last week
Intensity by region
NSW 108.3k tCO₂ 0.566 tCO₂/MWh
QLD 103.3k tCO₂ 0.567 tCO₂/MWh
SA 1.3k tCO₂ 0.025 tCO₂/MWh
VIC 88.9k tCO₂ 0.526 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh