NEM
NEM Daily analysis

Friday 26 June 2026

Trading day 2026-06-26

Market Snapshot

South Australia and Victoria lead prices as coal provides majority generation

Regional average prices ranged from 82.3 dollars in Tasmania to 151.3 dollars in South Australia. New South Wales and Queensland saw maximum prices exceed 220 dollars while South Australia peaked at 261.6 dollars per megawatt hour.

New South Wales recorded the highest regional demand peak of 10,942 megawatts at 17:50. Most regions reached their maximum demand during the evening peak except Victoria which peaked at 08:25.

Renewables achieved an instantaneous peak of 52.8 percent at 11:20 but averaged only 34.7 percent across the day. Coal and gas combined for 63.5 percent of total generation while batteries discharged 19,228 megawatt hours.

FCAS costs were highest for the Lower 6 Second service at 57,109 dollars with Queensland recording the peak regional prices. Total system emissions for the trading day were 380,869 tonnes of carbon dioxide.

Today · Predispatch forecasts a peak price of 319.04 dollars in Queensland at 19:30 this evening.

Why it matters · The daily average of 124.0 dollars sits 16.7 percent below the 7-day average and continues a three-day downward trend. This price softening occurred despite a 22.8 percent increase in emissions and a relatively low 34.7 percent renewable share.

NSW $133VIC $148QLD $117SA $151TAS $82
Numbers-only recap · gemini-3-flash-preview

Prices

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

NSW VIC QLD SA TAS
$0 $50 $100 $150 $200 $0 $55 $110 $165 $220 $0 $50 $100 $150 $200 $0 $55 $110 $165 $220 $0 $33 $65 $98 $130 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $133 $135 $72 $221 0 0
QLD $117 $120 $56 $223 0 0
SA $151 $154 $80 $262 0 0
VIC $148 $153 $70 $244 0 0
TAS $82 $84 $41 $121 0 0

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

Demand

NSW
Peak
10,942MW
17:50
Trough
7,327MW
04:00
Energy
434.9GWh
QLD
Peak
7,928MW
18:00
Trough
5,505MW
03:55
Energy
309.9GWh
SA
Peak
2,149MW
19:05
Trough
891MW
14:05
Energy
77.1GWh
VIC
Peak
7,914MW
08:25
Trough
4,957MW
03:45
Energy
307.9GWh
TAS
Peak
1,471MW
17:55
Trough
1,053MW
12:35
Energy
60.1GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$7,8640$3326 June, 15:15
LOWERREG$1,7420$726 June, 23:20
RAISE60SEC$7820$026 June, 07:40
RAISE6SEC$3940$027 June, 01:40
RAISE5MIN$1950$026 June, 23:35
LOWER5MIN$310$026 June, 15:10
LOWER60SEC$30$026 June, 12:50
LOWER6SEC$00$026 June, 12:50
Total$11,011

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

ServiceCostSpikesPeakWhen
LOWER6SEC$51,8370$1526 June, 10:10
LOWER60SEC$45,2910$2726 June, 15:55
RAISEREG$11,9920$3326 June, 15:15
LOWERREG$5,8470$826 June, 08:40
LOWER5MIN$5,6440$826 June, 15:50
RAISE6SEC$1650$026 June, 07:45
RAISE60SEC$740$026 June, 08:50
RAISE5MIN$670$026 June, 08:55
Total$120,916

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

ServiceCostSpikesPeakWhen
RAISEREG$13,9720$3326 June, 15:15
LOWERREG$2,7080$726 June, 23:20
RAISE60SEC$1,2930$026 June, 07:40
RAISE6SEC$8800$027 June, 01:40
RAISE5MIN$3460$026 June, 23:35
LOWER5MIN$150$026 June, 15:10
LOWER60SEC$70$026 June, 12:50
LOWER6SEC$00$026 June, 12:50
Total$19,221

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

ServiceCostSpikesPeakWhen
RAISEREG$11,4830$3326 June, 15:15
LOWERREG$5,3050$726 June, 23:20
RAISE60SEC$2,0420$526 June, 16:00
RAISE6SEC$1,8120$526 June, 16:00
RAISE5MIN$1,3800$527 June, 01:15
LOWER60SEC$1,3510$526 June, 06:00
LOWER6SEC$1,0380$426 June, 04:05
LOWER5MIN$5090$226 June, 05:55
Total$24,921

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

ServiceCostSpikesPeakWhen
RAISE6SEC$16,1730$7726 June, 09:15
RAISEREG$7,7660$1126 June, 16:30
LOWER6SEC$4,2330$326 June, 04:05
LOWERREG$4,1210$326 June, 08:00
RAISE60SEC$1,9740$226 June, 16:30
LOWER60SEC$9470$326 June, 22:55
RAISE5MIN$2310$026 June, 04:05
LOWER5MIN$410$026 June, 22:55
Total$35,487

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

Battery dispatch

Peak moment

Fleet discharged 1,221 MW at 18:00 as NSW spot hit $176/MWh.

Peak moment

Fleet discharged 1,506 MW at 17:30 as QLD spot hit $170/MWh.

Peak moment

Fleet discharged 778 MW at 18:00 as VIC spot hit $181/MWh.

Peak moment

Fleet discharged 364 MW at 19:00 as SA spot hit $181/MWh.

Peak moment

Fleet discharged 3,773 MW at 18:00 as TAS spot hit $110/MWh.

Discharged
5,437MWh
peak 1,221 MW · 18:00
Charged
3,862MWh
peak 592 MW
Net
+1,575MWh
discharge − charge
Round-trip
141%
discharge / charge ratio
Discharged
6,383MWh
peak 1,506 MW · 17:30
Charged
6,216MWh
peak 1,111 MW
Net
+167MWh
discharge − charge
Round-trip
103%
discharge / charge ratio
Discharged
5,115MWh
peak 778 MW · 18:00
Charged
4,577MWh
peak 957 MW
Net
+539MWh
discharge − charge
Round-trip
112%
discharge / charge ratio
Discharged
2,292MWh
peak 364 MW · 19:00
Charged
1,817MWh
peak 278 MW
Net
+476MWh
discharge − charge
Round-trip
126%
discharge / charge ratio
NEM-wide
Discharged
19,228MWh
peak 3,773 MW · 18:00
Charged
16,471MWh
peak 2,035 MW
Net
+2,756MWh
discharge − charge
Round-trip
117%
discharge / charge ratio

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

Net MWdischarge ↑ · charge ↓NSWQLDVICSATAS$/MWh
-4.0 GW-2.0 GW0 MW2.0 GW4.0 GW$0$100$200$30023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1QLD
6,383MWh
+167
#2NSW
5,437MWh
+1,575
#3VIC
5,115MWh
+539
#4SA
2,292MWh
+476

Generation Mix

TOP FUEL 60.1%
  • Coal60.1% · 146.7 GWh
  • Gas8.4% · 20.5 GWh
  • Hydro6.9% · 16.8 GWh
  • Wind8.1% · 19.7 GWh
  • Solar (utility)7.4% · 18.0 GWh
  • Solar (rooftop)5.9% · 14.3 GWh
  • Battery2.2% · 5.4 GWh
  • Other1.0% · 2.5 GWh
TOP FUEL 57.5%
  • Coal57.5% · 112.2 GWh
  • Gas8.0% · 15.6 GWh
  • Hydro2.0% · 4.0 GWh
  • Wind13.0% · 25.3 GWh
  • Solar (utility)7.6% · 14.7 GWh
  • Solar (rooftop)8.1% · 15.8 GWh
  • Battery3.3% · 6.4 GWh
  • Other0.6% · 1.2 GWh
TOP FUEL 62.5%
  • Coal62.5% · 98.8 GWh
  • Gas9.0% · 14.2 GWh
  • Hydro14.6% · 23.1 GWh
  • Wind1.4% · 2.1 GWh
  • Solar (utility)2.8% · 4.4 GWh
  • Solar (rooftop)6.2% · 9.7 GWh
  • Battery3.2% · 5.1 GWh
  • Other0.3% · 0.5 GWh
TOP FUEL 49.1%
  • Gas49.1% · 24.7 GWh
  • Wind28.7% · 14.4 GWh
  • Solar (utility)3.8% · 1.9 GWh
  • Solar (rooftop)12.9% · 6.5 GWh
  • Battery4.6% · 2.3 GWh
  • Other1.0% · 0.5 GWh
TOP FUEL 95.3%
  • Hydro95.3% · 32.1 GWh
  • Wind2.4% · 0.8 GWh
  • Solar (rooftop)2.3% · 0.8 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0012.1 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:009.9 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:008.1 GW 0
gasbattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:002.6 GW 0
hydrowindsolar rooftop
23:3005:3711:4517:5200:001.6 GW 0

Renewables

NSW · Daily renewable share
28.9%
VIC · Daily renewable share
26.2%
QLD · Daily renewable share
37.1%
SA · Daily renewable share
52.4%
TAS · Daily renewable share
103.1%
Peak instantaneous
52.8%
at 11:20
Daily NEM-wide share
34.7%
By region (daily share)
  • NSW
    28.9%
  • VIC
    26.2%
  • QLD
    37.1%
  • SA
    52.4%
  • TAS
    103.1%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +24.0 GWh 0 —
NSW1-QLD1 −2.5 GWh 30 —
VIC1-NSW1 −23.1 GWh 4 —
V-SA +600 MWh 42 —
T-V-MNSP1 +2.0 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
380.9k tCO₂
▲ 22.8% vs same day last week
Intensity by region
NSW 140.2k tCO₂ 0.581 tCO₂/MWh
QLD 105.0k tCO₂ 0.536 tCO₂/MWh
SA 12.1k tCO₂ 0.241 tCO₂/MWh
VIC 123.5k tCO₂ 0.778 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh