Tuesday 14 July 2026
Trading day 2026-07-14
NEM prices remain subdued as renewable generation reaches seventy percent peak
Regional price averages remained low across the NEM, with Tasmania and Victoria recording the lowest figures at $32.10/MWh and $33.40/MWh respectively. South Australia saw the highest volatility with prices ranging from -$73.80/MWh to a maximum of $259.90/MWh. Negative pricing was prevalent in the southern regions, where Victoria and South Australia both exceeded 150 negative intervals.
Coal maintained the largest share of the generation mix at 50.4%, followed by wind at 23.0% and combined solar at 15.7%. The renewable share averaged 45.9% for the day, supported by a 6.4% contribution from hydro resources. Gas and battery discharge provided 2.3% and 2.2% of the total energy mix respectively.
Aggregate demand was led by New South Wales with a peak of 10,814 MW at 18:00, followed by Queensland at 7,952 MW. Total battery discharge reached 15,006 MWh, though the fleet remained a net consumer with -3,875 MWh after charging. FCAS costs were modest, with the highest single service cost being $26,216 for NSW Regulation Raise.
Total daily emissions were recorded at 337,666 tCO2, representing a significant 15% decrease against the same day last week. Interconnector flows showed 46,870 MWh moving from Victoria into New South Wales, while Tasmania exported a net 7,041 MWh to the mainland.
Today · 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 average price of $38.00/MWh sits 60% below the weekly average, extending a four-day trend of sub-$50 prices. This sustained low-price environment coincides with a high 71.5% renewable peak and a 15% drop in emissions, despite coal still providing half of the total energy.
Prices
Trading day · 04:00 → 04:00 AEST · 30-min average
| Region | Avg | VWAP | Min | Max | Neg | Cap |
|---|---|---|---|---|---|---|
| NSW | $56 | $58 | -$3 | $89 | 20 | 0 |
| QLD | $53 | $57 | -$3 | $175 | 20 | 0 |
| SA | $55 | $62 | -$74 | $260 | 150 | 0 |
| VIC | $33 | $35 | -$54 | $129 | 152 | 0 |
| TAS | $32 | $33 | -$13 | $88 | 48 | 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 | $3,819 | 0 | $12 | 14 July, 16:15 |
| LOWERREG | $352 | 0 | $5 | 14 July, 15:35 |
| RAISE6SEC | $168 | 0 | $0 | 14 July, 07:40 |
| LOWER5MIN | $135 | 0 | $0 | 14 July, 15:35 |
| LOWER60SEC | $132 | 0 | $0 | 14 July, 13:10 |
| RAISE60SEC | $129 | 0 | $0 | 14 July, 07:40 |
| LOWER6SEC | $66 | 0 | $0 | 14 July, 13:15 |
| RAISE5MIN | $52 | 0 | $0 | 14 July, 07:40 |
| Total | $4,852 | |||
Cost = NSW RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $3,515 | 0 | $12 | 14 July, 16:15 |
| LOWERREG | $1,278 | 0 | $5 | 14 July, 15:35 |
| RAISE6SEC | $234 | 0 | $0 | 14 July, 07:40 |
| LOWER60SEC | $218 | 0 | $0 | 14 July, 13:10 |
| RAISE60SEC | $147 | 0 | $0 | 14 July, 07:40 |
| LOWER5MIN | $90 | 0 | $0 | 14 July, 15:35 |
| LOWER6SEC | $55 | 0 | $0 | 14 July, 13:15 |
| RAISE5MIN | $31 | 0 | $0 | 14 July, 07:40 |
| Total | $5,569 | |||
Cost = QLD RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $6,006 | 0 | $12 | 14 July, 16:15 |
| LOWERREG | $1,175 | 0 | $5 | 14 July, 15:35 |
| LOWER60SEC | $387 | 0 | $0 | 14 July, 13:10 |
| RAISE6SEC | $198 | 0 | $0 | 14 July, 07:40 |
| RAISE60SEC | $177 | 0 | $0 | 14 July, 07:40 |
| LOWER5MIN | $155 | 0 | $0 | 14 July, 15:35 |
| LOWER6SEC | $117 | 0 | $0 | 14 July, 13:15 |
| RAISE5MIN | $69 | 0 | $0 | 14 July, 07:40 |
| Total | $8,283 | |||
Cost = VIC RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $4,064 | 0 | $12 | 14 July, 16:15 |
| LOWERREG | $3,283 | 0 | $5 | 14 July, 15:35 |
| RAISE6SEC | $264 | 0 | $0 | 14 July, 07:40 |
| LOWER60SEC | $255 | 0 | $0 | 14 July, 13:10 |
| RAISE60SEC | $196 | 0 | $0 | 14 July, 07:40 |
| LOWER5MIN | $155 | 0 | $0 | 14 July, 15:35 |
| LOWER6SEC | $120 | 0 | $0 | 14 July, 13:15 |
| RAISE5MIN | $68 | 0 | $0 | 14 July, 07:40 |
| Total | $8,404 | |||
Cost = SA RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $8,812 | 0 | $5 | 14 July, 04:35 |
| LOWERREG | $6,161 | 0 | $50 | 14 July, 05:35 |
| RAISE60SEC | $809 | 0 | $3 | 14 July, 11:50 |
| RAISE6SEC | $715 | 0 | $3 | 14 July, 05:35 |
| LOWER5MIN | $35 | 0 | $0 | 14 July, 15:35 |
| LOWER60SEC | $34 | 0 | $0 | 14 July, 08:45 |
| LOWER6SEC | $34 | 0 | $0 | 14 July, 08:45 |
| RAISE5MIN | $18 | 0 | $0 | 14 July, 04:10 |
| Total | $16,618 | |||
Cost = TAS RRP × cleared MW per 5-min interval.
Battery dispatch
Peak moment
Fleet discharged 982 MW at 18:30 as NSW spot hit $72/MWh.
Peak moment
Fleet discharged 1,114 MW at 18:00 as QLD spot hit $75/MWh.
Peak moment
Fleet discharged 704 MW at 08:00 as VIC spot hit $41/MWh.
Peak moment
Fleet discharged 352 MW at 09:00 as SA spot hit $54/MWh.
Peak moment
Fleet discharged 2,793 MW at 18:30 as TAS spot hit $65/MWh.
Fleet net dispatch · spot-price overlay · 30-min average
Regional dispatch ranking
| Region | Discharged | Net |
|---|---|---|
#1QLD | 4,996MWh | -1,393 |
#2VIC | 4,425MWh | -443 |
#3NSW | 4,229MWh | -1,862 |
#4SA | 1,357MWh | -178 |
Generation Mix
- Coal59.9% · 131.8 GWh
- Gas0.5% · 1.1 GWh
- Hydro3.3% · 7.3 GWh
- Wind17.3% · 38.1 GWh
- Solar (utility)7.1% · 15.6 GWh
- Solar (rooftop)9.9% · 21.8 GWh
- Battery1.9% · 4.2 GWh
- Coal60.5% · 119.2 GWh
- Gas2.5% · 4.9 GWh
- Hydro3.0% · 6.0 GWh
- Wind7.4% · 14.5 GWh
- Solar (utility)10.4% · 20.4 GWh
- Solar (rooftop)13.7% · 27.0 GWh
- Battery2.5% · 5.0 GWh
- Coal48.5% · 94.3 GWh
- Hydro3.7% · 7.3 GWh
- Wind38.2% · 74.3 GWh
- Solar (utility)2.4% · 4.7 GWh
- Solar (rooftop)4.8% · 9.3 GWh
- Battery2.3% · 4.4 GWh
- Gas20.9% · 8.1 GWh
- Wind55.4% · 21.4 GWh
- Solar (utility)4.3% · 1.7 GWh
- Solar (rooftop)15.8% · 6.1 GWh
- Battery3.5% · 1.4 GWh
- Gas5.1% · 1.8 GWh
- Hydro66.3% · 23.3 GWh
- Wind26.9% · 9.5 GWh
- Solar (rooftop)1.7% · 0.6 GWh
Renewables
- NSW 35.2%
- VIC 57.4%
- QLD 39.3%
- SA 68.3%
- TAS 100.8%
Interconnectors
| Region (proxy) | Net flow | Direction changes | Hours at limit |
|---|---|---|---|
| N-Q-MNSP1 | +25.1 GWh | 16 | — |
| NSW1-QLD1 | −55.5 GWh | 0 | — |
| VIC1-NSW1 | +46.9 GWh | 0 | — |
| V-SA | −17.6 GWh | 7 | — |
| T-V-MNSP1 | +7.0 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
| NSW | 114.8k tCO₂ | 0.520 tCO₂/MWh |
| QLD | 105.0k tCO₂ | 0.526 tCO₂/MWh |
| SA | 3.8k tCO₂ | 0.097 tCO₂/MWh |
| VIC | 113.0k tCO₂ | 0.579 tCO₂/MWh |
| TAS | 1.1k tCO₂ | 0.031 tCO₂/MWh |