Thursday 25 June 2026
Trading day 2026-06-25
Victoria leads regional prices as coal dominates the NEM generation mix
Price outcomes varied across the mainland with Victoria averaging 147.50 dollars and Tasmania recording the lowest regional average at 84.70 dollars. Maximum prices peaked at 244.90 dollars in Victoria during the morning period while Queensland saw the lowest minimum of 6.70 dollars.
New South Wales reached a peak demand of 11,317 megawatts at 17:55, coinciding with the Queensland peak of 7,946 megawatts. Southern regions peaked earlier in the day with Victoria hitting 8,036 megawatts at 08:15 and South Australia reaching 2,195 megawatts at 08:30.
Renewable generation achieved an instantaneous peak of 57.7 percent at 11:10, though the daily average remained lower at 36.1 percent. Hydro and wind each contributed 11.3 percent to the mix while utility and rooftop solar combined for 12.5 percent of total energy.
Battery storage discharged 15,264 megawatt hours into the grid, resulting in a net discharge of 7,494 megawatt hours for the day. FCAS costs were most prominent in the Lower 6 Second service which totaled 98,764 dollars with peak pricing occurring in Queensland.
Today · Forecasts indicate a Queensland price peak of 319.04 dollars at 19:30 while other regions expect maximums below 150 dollars.
Why it matters · The daily average of 119.90 dollars sits below the seven-day average of 136.00 dollars, breaking a recent three-day run of higher pricing. This lower price environment occurred despite a significant 24.1 percent increase in emissions and a reliance on fossil fuels for over 62 percent of generation.
Prices
Trading day · 04:00 → 04:00 AEST · 30-min average
| Region | Avg | VWAP | Min | Max | Neg | Cap |
|---|---|---|---|---|---|---|
| NSW | $138 | $141 | $85 | $232 | 0 | 0 |
| QLD | $92 | $96 | $7 | $172 | 0 | 0 |
| SA | $127 | $130 | $71 | $220 | 0 | 0 |
| VIC | $147 | $151 | $85 | $245 | 0 | 0 |
| TAS | $85 | $86 | $60 | $228 | 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 | $11,805 | 0 | $20 | 25 June, 09:20 |
| LOWERREG | $1,598 | 0 | $5 | 25 June, 19:50 |
| RAISE60SEC | $595 | 0 | $0 | 25 June, 18:55 |
| RAISE6SEC | $487 | 0 | $0 | 25 June, 22:20 |
| RAISE5MIN | $109 | 0 | $0 | 25 June, 22:35 |
| LOWER5MIN | $0 | 0 | $0 | 25 June, 14:10 |
| LOWER6SEC | $0 | 0 | $0 | 25 June, 04:05 |
| LOWER60SEC | $0 | 0 | $0 | 25 June, 04:05 |
| Total | $14,594 | |||
Cost = NSW RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| LOWER6SEC | $92,702 | 0 | $20 | 25 June, 10:30 |
| LOWER60SEC | $80,897 | 0 | $20 | 25 June, 10:30 |
| RAISEREG | $19,391 | 0 | $20 | 25 June, 09:20 |
| LOWER5MIN | $9,007 | 0 | $7 | 25 June, 15:10 |
| LOWERREG | $4,157 | 0 | $8 | 25 June, 15:10 |
| RAISE6SEC | $119 | 0 | $0 | 25 June, 07:30 |
| RAISE5MIN | $34 | 0 | $0 | 25 June, 07:00 |
| RAISE60SEC | $25 | 0 | $0 | 25 June, 07:30 |
| Total | $206,332 | |||
Cost = QLD RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $8,980 | 0 | $20 | 25 June, 09:20 |
| LOWERREG | $1,882 | 0 | $5 | 25 June, 19:50 |
| RAISE60SEC | $1,031 | 0 | $0 | 25 June, 18:55 |
| RAISE6SEC | $991 | 0 | $0 | 25 June, 22:20 |
| RAISE5MIN | $217 | 0 | $0 | 25 June, 22:35 |
| LOWER5MIN | $0 | 0 | $0 | 25 June, 14:10 |
| LOWER6SEC | $0 | 0 | $0 | 25 June, 04:05 |
| LOWER60SEC | $0 | 0 | $0 | 25 June, 04:05 |
| Total | $13,100 | |||
Cost = VIC RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $12,639 | 0 | $20 | 25 June, 09:20 |
| LOWER60SEC | $6,869 | 0 | $10 | 25 June, 08:40 |
| LOWERREG | $5,168 | 0 | $5 | 25 June, 19:50 |
| LOWER6SEC | $4,510 | 0 | $13 | 25 June, 13:35 |
| RAISE60SEC | $779 | 0 | $0 | 25 June, 18:55 |
| RAISE6SEC | $761 | 0 | $0 | 25 June, 22:20 |
| LOWER5MIN | $536 | 0 | $1 | 25 June, 15:45 |
| RAISE5MIN | $188 | 0 | $0 | 25 June, 22:35 |
| Total | $31,450 | |||
Cost = SA RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISE6SEC | $23,035 | 0 | $112 | 25 June, 18:00 |
| RAISEREG | $8,865 | 0 | $29 | 25 June, 07:45 |
| LOWERREG | $3,968 | 0 | $11 | 26 June, 01:00 |
| RAISE60SEC | $2,028 | 0 | $3 | 25 June, 05:40 |
| LOWER6SEC | $1,552 | 0 | $3 | 25 June, 04:05 |
| LOWER60SEC | $968 | 0 | $3 | 25 June, 04:05 |
| RAISE5MIN | $246 | 0 | $0 | 25 June, 04:05 |
| LOWER5MIN | $4 | 0 | $0 | 25 June, 04:05 |
| Total | $40,666 | |||
Cost = TAS RRP × cleared MW per 5-min interval.
Battery dispatch
Peak moment
Fleet discharged 908 MW at 18:00 as NSW spot hit $173/MWh.
Peak moment
Fleet discharged 1,293 MW at 17:30 as QLD spot hit $164/MWh.
Peak moment
Fleet discharged 737 MW at 18:00 as VIC spot hit $188/MWh.
Peak moment
Fleet discharged 318 MW at 17:30 as SA spot hit $194/MWh.
Peak moment
Fleet discharged 3,203 MW at 18:00 as TAS spot hit $136/MWh.
Fleet net dispatch · spot-price overlay · 30-min average
Regional dispatch ranking
| Region | Discharged | Net |
|---|---|---|
#1NSW | 5,158MWh | -3,387 |
#2QLD | 4,860MWh | -1,262 |
#3VIC | 3,794MWh | -1,870 |
#4SA | 1,452MWh | -976 |
Generation Mix
- Coal60.9% · 150.5 GWh
- Gas8.0% · 19.8 GWh
- Hydro7.8% · 19.3 GWh
- Wind9.9% · 24.6 GWh
- Solar (utility)6.2% · 15.4 GWh
- Solar (rooftop)5.0% · 12.5 GWh
- Battery2.1% · 5.2 GWh
- Coal54.7% · 109.6 GWh
- Gas7.4% · 14.8 GWh
- Hydro2.4% · 4.8 GWh
- Wind14.7% · 29.4 GWh
- Solar (utility)8.9% · 17.9 GWh
- Solar (rooftop)9.4% · 18.9 GWh
- Battery2.4% · 4.9 GWh
- Coal58.8% · 91.7 GWh
- Gas12.9% · 20.2 GWh
- Hydro15.3% · 23.9 GWh
- Wind2.0% · 3.1 GWh
- Solar (utility)2.7% · 4.3 GWh
- Solar (rooftop)5.8% · 9.0 GWh
- Battery2.4% · 3.8 GWh
- Gas43.4% · 22.9 GWh
- Wind38.5% · 20.3 GWh
- Solar (utility)3.9% · 2.1 GWh
- Solar (rooftop)11.5% · 6.0 GWh
- Battery2.8% · 1.5 GWh
- Gas0.9% · 0.3 GWh
- Hydro96.4% · 33.1 GWh
- Wind0.9% · 0.3 GWh
- Solar (rooftop)1.8% · 0.6 GWh
Renewables
- NSW 28.5%
- VIC 25.8%
- QLD 42.0%
- SA 62.1%
- TAS 102.5%
Interconnectors
| Region (proxy) | Net flow | Direction changes | Hours at limit |
|---|---|---|---|
| N-Q-MNSP1 | +30.9 GWh | 0 | — |
| NSW1-QLD1 | −4.2 GWh | 36 | — |
| VIC1-NSW1 | −35.6 GWh | 2 | — |
| V-SA | +9.3 GWh | 24 | — |
| T-V-MNSP1 | +2.2 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 | 143.4k tCO₂ | 0.579 tCO₂/MWh |
| QLD | 102.4k tCO₂ | 0.511 tCO₂/MWh |
| SA | 11.2k tCO₂ | 0.213 tCO₂/MWh |
| VIC | 117.4k tCO₂ | 0.753 tCO₂/MWh |
| TAS | 203 tCO₂ | 0.006 tCO₂/MWh |