Monday 22 June 2026
Trading day 2026-06-22
Extreme price volatility in South Australia drives NEM daily average higher
Price outcomes varied sharply across the NEM, with South Australia’s VWAP reaching $1,212.00/MWh amid frequent price caps. Queensland maintained the lowest regional average of $72.60/MWh and recorded 40 negative price intervals. New South Wales and Tasmania saw more moderate averages of $102.40/MWh and $117.70/MWh respectively.
System demand peaked in the evening for most regions, with New South Wales hitting 10,794 MW at 18:05. Victoria also recorded its maximum demand of 8,332 MW during the same interval. Total energy consumption for the day was highest in New South Wales at 411.4 GWh.
Renewable generation reached an instantaneous peak of 56.1% at 11:55, though the daily average remained lower at 30.3%. Wind and utility solar contributed 4.6% and 5.6% respectively, while rooftop solar added 8.1%. Coal remained the primary energy source, accounting for 55.9% of the total NEM generation mix.
Battery storage systems discharged 14,262 MWh to the grid, representing 2.1% of the total fuel mix. FCAS costs were most prominent in the Raise Regulation service, totalling $123,491 with peak pricing occurring in Tasmania. Total emissions for the trading day rose by 15.1% compared to the same day last week.
Today · Predispatch 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 NEM average of $328.10/MWh is nearly five times the 7-day average, extending a sharp three-day upward trend. This price surge is notable because it occurred alongside a 15.1% increase in emissions and a relatively low 4.6% wind contribution.
Prices
Trading day · 04:00 → 04:00 AEST · 30-min average
| Region | Avg | VWAP | Min | Max | Neg | Cap |
|---|---|---|---|---|---|---|
| NSW | $102 | $105 | -$3 | $299 | 4 | 0 |
| QLD | $73 | $77 | -$5 | $151 | 40 | 0 |
| SA | $1145 | $1212 | $141 | $20300 | 0 | 20 |
| VIC | $180 | $187 | $78 | $450 | 0 | 0 |
| TAS | $118 | $121 | $60 | $368 | 0 | 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 | $9,823 | 0 | $20 | 22 June, 14:45 |
| LOWERREG | $788 | 0 | $8 | 22 June, 09:15 |
| RAISE60SEC | $763 | 0 | $0 | 22 June, 07:50 |
| RAISE6SEC | $366 | 0 | $0 | 22 June, 17:30 |
| RAISE5MIN | $116 | 0 | $0 | 22 June, 08:05 |
| LOWER60SEC | $1 | 0 | $0 | 22 June, 13:55 |
| LOWER5MIN | $0 | 0 | $0 | 22 June, 13:55 |
| LOWER6SEC | $0 | 0 | $0 | 22 June, 05:35 |
| Total | $11,857 | |||
Cost = NSW RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| LOWER6SEC | $46,489 | 0 | $63 | 22 June, 14:15 |
| LOWER60SEC | $37,982 | 0 | $47 | 22 June, 14:15 |
| RAISEREG | $11,411 | 0 | $20 | 22 June, 14:45 |
| LOWER5MIN | $9,986 | 0 | $8 | 22 June, 15:05 |
| LOWERREG | $3,724 | 0 | $8 | 22 June, 09:15 |
| RAISE6SEC | $210 | 0 | $0 | 22 June, 07:50 |
| RAISE5MIN | $130 | 0 | $0 | 22 June, 07:50 |
| RAISE60SEC | $115 | 0 | $0 | 22 June, 07:00 |
| Total | $110,048 | |||
Cost = QLD RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $7,993 | 0 | $20 | 22 June, 14:45 |
| LOWERREG | $2,025 | 0 | $8 | 22 June, 09:15 |
| RAISE60SEC | $779 | 0 | $0 | 22 June, 07:50 |
| RAISE6SEC | $414 | 0 | $0 | 22 June, 17:30 |
| RAISE5MIN | $137 | 0 | $0 | 22 June, 08:05 |
| LOWER60SEC | $4 | 0 | $0 | 22 June, 13:55 |
| LOWER5MIN | $1 | 0 | $0 | 22 June, 13:55 |
| LOWER6SEC | $0 | 0 | $0 | 22 June, 05:35 |
| Total | $11,354 | |||
Cost = VIC RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $11,976 | 0 | $20 | 22 June, 14:45 |
| LOWERREG | $3,588 | 0 | $8 | 22 June, 09:15 |
| RAISE60SEC | $567 | 0 | $0 | 22 June, 07:50 |
| RAISE6SEC | $318 | 0 | $0 | 22 June, 17:30 |
| RAISE5MIN | $102 | 0 | $0 | 22 June, 08:05 |
| LOWER60SEC | $3 | 0 | $0 | 22 June, 13:55 |
| LOWER5MIN | $0 | 0 | $0 | 22 June, 13:55 |
| LOWER6SEC | $0 | 0 | $0 | 22 June, 05:35 |
| Total | $16,554 | |||
Cost = SA RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $82,288 | 0 | $181 | 22 June, 08:35 |
| LOWERREG | $7,086 | 0 | $50 | 22 June, 19:25 |
| RAISE6SEC | $3,177 | 0 | $14 | 22 June, 12:35 |
| RAISE60SEC | $2,163 | 0 | $3 | 22 June, 04:25 |
| LOWER6SEC | $1,035 | 0 | $3 | 22 June, 10:30 |
| LOWER60SEC | $342 | 0 | $0 | 22 June, 04:05 |
| RAISE5MIN | $176 | 0 | $0 | 22 June, 04:05 |
| LOWER5MIN | $12 | 0 | $0 | 22 June, 23:35 |
| Total | $96,279 | |||
Cost = TAS RRP × cleared MW per 5-min interval.
Battery dispatch
Peak moment
Fleet discharged 868 MW at 07:30 as NSW spot hit $127/MWh.
Peak moment
Fleet discharged 943 MW at 18:00 as QLD spot hit $121/MWh.
Peak moment
Fleet discharged 1,107 MW at 09:00 as VIC spot hit $298/MWh.
Peak moment
Fleet discharged 237 MW at 19:30 as SA spot hit $313/MWh.
Peak moment
Fleet discharged 2,374 MW at 07:30 as TAS spot hit $116/MWh.
Fleet net dispatch · spot-price overlay · 30-min average
Regional dispatch ranking
| Region | Discharged | Net |
|---|---|---|
#1NSW | 5,287MWh | +488 |
#2VIC | 3,996MWh | +118 |
#3QLD | 3,780MWh | -903 |
#4SA | 1,199MWh | -1,027 |
Generation Mix
- Coal70.2% · 156.6 GWh
- Gas5.1% · 11.4 GWh
- Hydro4.1% · 9.2 GWh
- Wind2.2% · 4.9 GWh
- Solar (utility)6.7% · 15.0 GWh
- Solar (rooftop)8.6% · 19.2 GWh
- Battery2.4% · 5.3 GWh
- Other0.6% · 1.4 GWh
- Coal59.3% · 115.1 GWh
- Gas8.4% · 16.2 GWh
- Hydro2.5% · 4.9 GWh
- Wind8.1% · 15.7 GWh
- Solar (utility)8.5% · 16.4 GWh
- Solar (rooftop)11.2% · 21.8 GWh
- Battery1.9% · 3.8 GWh
- Other0.1% · 0.1 GWh
- Coal59.9% · 104.9 GWh
- Gas12.2% · 21.3 GWh
- Hydro15.4% · 27.0 GWh
- Wind2.9% · 5.1 GWh
- Solar (utility)2.5% · 4.5 GWh
- Solar (rooftop)4.6% · 8.1 GWh
- Battery2.3% · 4.0 GWh
- Other0.1% · 0.1 GWh
- Gas75.8% · 32.3 GWh
- Wind5.9% · 2.5 GWh
- Solar (utility)4.1% · 1.7 GWh
- Solar (rooftop)11.4% · 4.8 GWh
- Battery2.8% · 1.2 GWh
- Gas1.1% · 0.4 GWh
- Hydro89.3% · 35.8 GWh
- Wind7.8% · 3.1 GWh
- Solar (rooftop)1.8% · 0.7 GWh
Renewables
- NSW 22.8%
- VIC 27.9%
- QLD 36.0%
- SA 20.4%
- TAS 114.4%
Interconnectors
| Region (proxy) | Net flow | Direction changes | Hours at limit |
|---|---|---|---|
| N-Q-MNSP1 | +30.5 GWh | 0 | — |
| NSW1-QLD1 | −26.1 GWh | 0 | — |
| VIC1-NSW1 | +5.8 GWh | 24 | — |
| V-SA | −18.2 GWh | 8 | — |
| T-V-MNSP1 | +11.4 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 | 143.7k tCO₂ | 0.649 tCO₂/MWh |
| QLD | 106.9k tCO₂ | 0.555 tCO₂/MWh |
| SA | 16.7k tCO₂ | 0.392 tCO₂/MWh |
| VIC | 133.2k tCO₂ | 0.761 tCO₂/MWh |
| TAS | 294 tCO₂ | 0.007 tCO₂/MWh |