NEM
NEM Daily analysis

Wednesday 2 September 2026

Trading day 2026-09-02

Market Snapshot

Regional prices converge as renewable generation peaks at seventy-three percent

Average regional prices were tightly clustered between $35.00/MWh in Tasmania and $45.90/MWh in New South Wales. Queensland and New South Wales experienced significant price volatility with 140 and 130 negative intervals respectively during daylight hours.

Demand peaked across all regions between 18:20 and 18:55, led by New South Wales at 8,786 MW. Total energy consumption for the day reached 963.7 GWh across the five regions.

Renewable generation achieved an instantaneous peak of 73.3% at 13:10, supported by a 17.4% wind contribution. Coal maintained a 48% share of the total mix while gas generation remained minimal at 1.3%.

Battery storage dispatched 19,536 MWh to the grid, representing 3.1% of the total generation mix. Total emissions of 295,441 tonnes of CO2 reflected a 19.8% decrease compared to the same day last week.

Today · Forward projections indicate a price peak of $319.04/MWh in Queensland at 19:30, with other regions remaining below $150/MWh.

Why it matters · The daily average of $47.90/MWh sits 29% below the weekly average, continuing a downward trend from the $104.10/MWh peak six days ago. This price softening coincides with a high 48% renewable share and a significant 19.8% reduction in emissions relative to the prior week.

NSW $46VIC $36QLD $44SA $45TAS $35
Numbers-only recap · gemini-3-flash-preview

Prices

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

NSW VIC QLD SA TAS
-$10 $20 $50 $80 $110 -$10 $20 $50 $80 $110 -$10 $18 $45 $73 $100 -$10 $20 $50 $80 $110 -$10 $18 $45 $73 $100 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $46 $50 -$9 $98 130 0
QLD $44 $51 -$8 $93 140 0
SA $45 $49 -$4 $110 20 0
VIC $36 $40 -$5 $107 36 0
TAS $35 $37 -$5 $100 26 0

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

Demand

NSW
Peak
8,786MW
18:20
Trough
4,936MW
12:35
Energy
334.9GWh
QLD
Peak
7,472MW
18:30
Trough
3,471MW
10:50
Energy
266.4GWh
SA
Peak
1,832MW
18:55
Trough
738MW
13:10
Energy
62.7GWh
VIC
Peak
6,844MW
18:30
Trough
3,756MW
13:30
Energy
251.3GWh
TAS
Peak
1,242MW
18:25
Trough
846MW
04:05
Energy
48.4GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$2,4640$202 Sept, 15:35
LOWERREG$4190$72 Sept, 07:30
LOWER60SEC$2430$12 Sept, 15:00
RAISE6SEC$1850$02 Sept, 06:35
LOWER6SEC$1370$02 Sept, 14:00
RAISE60SEC$1170$02 Sept, 06:35
LOWER5MIN$790$02 Sept, 15:45
RAISE5MIN$280$02 Sept, 06:35
Total$3,673

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

ServiceCostSpikesPeakWhen
RAISEREG$9,6220$202 Sept, 15:35
LOWERREG$3,8010$72 Sept, 07:30
LOWER60SEC$6560$12 Sept, 15:00
RAISE6SEC$5150$02 Sept, 06:35
LOWER6SEC$3990$02 Sept, 14:00
RAISE60SEC$3650$02 Sept, 06:35
LOWER5MIN$1730$02 Sept, 15:45
RAISE5MIN$580$02 Sept, 06:35
Total$15,590

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

ServiceCostSpikesPeakWhen
RAISEREG$10,8360$202 Sept, 15:35
LOWERREG$2,6660$72 Sept, 07:30
LOWER60SEC$4150$12 Sept, 15:00
RAISE6SEC$4080$02 Sept, 06:35
RAISE60SEC$3750$02 Sept, 06:35
LOWER6SEC$3240$02 Sept, 14:00
RAISE5MIN$970$02 Sept, 06:35
LOWER5MIN$860$02 Sept, 15:45
Total$15,206

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

ServiceCostSpikesPeakWhen
RAISEREG$4,4970$202 Sept, 15:35
LOWERREG$3,0740$72 Sept, 07:30
LOWER60SEC$5210$12 Sept, 15:00
RAISE6SEC$3700$02 Sept, 06:35
LOWER6SEC$3320$02 Sept, 14:00
RAISE60SEC$2710$02 Sept, 06:35
LOWER5MIN$1110$02 Sept, 15:45
RAISE5MIN$580$02 Sept, 06:35
Total$9,234

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

ServiceCostSpikesPeakWhen
LOWERREG$23,7580$623 Sept, 03:00
RAISEREG$9,1210$52 Sept, 09:05
LOWER6SEC$2,7050$1132 Sept, 09:15
RAISE6SEC$1,1740$62 Sept, 23:25
RAISE60SEC$8110$32 Sept, 08:35
LOWER60SEC$900$12 Sept, 15:00
RAISE5MIN$570$02 Sept, 08:05
LOWER5MIN$10$02 Sept, 15:45
Total$37,717

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

Battery dispatch

Peak moment

Fleet discharged 1,076 MW at 18:30 as NSW spot hit $83/MWh.

Peak moment

Fleet discharged 1,277 MW at 18:30 as QLD spot hit $83/MWh.

Peak moment

Fleet discharged 1,001 MW at 19:00 as VIC spot hit $77/MWh.

Peak moment

Fleet discharged 393 MW at 19:00 as SA spot hit $85/MWh.

Peak moment

Fleet discharged 3,670 MW at 18:30 as TAS spot hit $72/MWh.

Discharged
4,540MWh
peak 1,076 MW · 18:30
Charged
4,979MWh
peak 1,026 MW
Net
-439MWh
discharge − charge
Round-trip
91%
discharge / charge ratio
Discharged
5,589MWh
peak 1,277 MW · 18:30
Charged
6,353MWh
peak 1,312 MW
Net
-764MWh
discharge − charge
Round-trip
88%
discharge / charge ratio
Discharged
7,077MWh
peak 1,001 MW · 19:00
Charged
4,209MWh
peak 1,046 MW
Net
+2,868MWh
discharge − charge
Round-trip
168%
discharge / charge ratio
Discharged
2,331MWh
peak 393 MW · 19:00
Charged
1,867MWh
peak 372 MW
Net
+464MWh
discharge − charge
Round-trip
125%
discharge / charge ratio
NEM-wide
Discharged
19,536MWh
peak 3,670 MW · 18:30
Charged
17,409MWh
peak 3,035 MW
Net
+2,128MWh
discharge − charge
Round-trip
112%
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-$50$0$50$10023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1VIC
7,077MWh
+2,868
#2QLD
5,589MWh
-764
#3NSW
4,540MWh
-439
#4SA
2,331MWh
+464

Generation Mix

TOP FUEL 48.9%
  • Coal48.9% · 100.9 GWh
  • Gas0.5% · 1.1 GWh
  • Hydro3.3% · 6.7 GWh
  • Wind16.5% · 34.0 GWh
  • Solar (utility)13.1% · 27.0 GWh
  • Solar (rooftop)15.3% · 31.5 GWh
  • Battery2.2% · 4.5 GWh
  • Other0.3% · 0.5 GWh
TOP FUEL 57.3%
  • Coal57.3% · 109.9 GWh
  • Gas1.5% · 2.8 GWh
  • Hydro2.2% · 4.1 GWh
  • Wind6.4% · 12.3 GWh
  • Solar (utility)11.8% · 22.6 GWh
  • Solar (rooftop)17.7% · 33.9 GWh
  • Battery2.9% · 5.6 GWh
  • Other0.4% · 0.7 GWh
TOP FUEL 54.8%
  • Coal54.8% · 90.1 GWh
  • Hydro2.2% · 3.7 GWh
  • Wind22.5% · 37.0 GWh
  • Solar (utility)4.5% · 7.4 GWh
  • Solar (rooftop)9.8% · 16.1 GWh
  • Battery4.3% · 7.1 GWh
  • Other1.7% · 2.9 GWh
TOP FUEL 46.3%
  • Gas13.5% · 4.5 GWh
  • Wind46.3% · 15.4 GWh
  • Solar (utility)8.5% · 2.8 GWh
  • Solar (rooftop)23.3% · 7.8 GWh
  • Battery7.0% · 2.3 GWh
  • Other1.4% · 0.5 GWh
TOP FUEL 62.9%
  • Hydro62.9% · 19.6 GWh
  • Wind33.8% · 10.5 GWh
  • Solar (rooftop)3.4% · 1.1 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0011.5 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:009.7 GW 0
coalhydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:008.5 GW 0
gasbattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:001.8 GW 0
hydrowindsolar rooftop
23:3005:3711:4517:5200:001.7 GW 0

Renewables

NSW · Daily renewable share
47.0%
VIC · Daily renewable share
46.9%
QLD · Daily renewable share
44.5%
SA · Daily renewable share
67.5%
TAS · Daily renewable share
106.5%
Peak instantaneous
73.3%
at 13:10
Daily NEM-wide share
48.0%
By region (daily share)
  • NSW
    47.0%
  • VIC
    46.9%
  • QLD
    44.5%
  • SA
    67.5%
  • TAS
    106.5%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +18.5 GWh 10 —
NSW1-QLD1 −23.0 GWh 14 —
VIC1-NSW1 +20.1 GWh 14 —
V-SA −10.4 GWh 3 —
T-V-MNSP1 −1.6 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
295.4k tCO₂
▼ 19.8% vs same day last week
Intensity by region
NSW 88.3k tCO₂ 0.425 tCO₂/MWh
QLD 97.5k tCO₂ 0.500 tCO₂/MWh
SA 2.4k tCO₂ 0.069 tCO₂/MWh
VIC 107.2k tCO₂ 0.648 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh