Friday 4 September 2026
Trading day 2026-09-04
Renewable generation peaks at 78.2 percent amid widespread negative pricing intervals
Regional price averages diverged significantly, ranging from $22.40/MWh in South Australia to $58.30/MWh in New South Wales. Negative pricing was a dominant feature of the day, with Victoria recording 210 intervals below zero and South Australia following with 200 intervals. Queensland also saw 172 negative intervals, while New South Wales remained the most stable with only 16.
Renewable energy reached an instantaneous peak of 78.2% at 13:10, with solar and wind contributing a combined 44.6% of the daily mix. Coal remained the primary baseload source at 45.8%, while gas generation was minimal at 1.8%. Hydro contributed 5.1% to the total generation profile as emissions fell 17.1% compared to the same day last week.
Batteries discharged 17,486 MWh throughout the day but ended with a net load of 4,534 MWh after recharging. FCAS costs were concentrated in Tasmania, where the Raise Regulation service reached a peak price of $134.00/MWh. Interconnector flows showed significant movement from Victoria into South Australia and New South Wales to balance regional demand.
Evening demand peaks were consistent across the mainland between 17:55 and 18:25, led by New South Wales at 8,594 MW. Total daily energy consumption was highest in New South Wales at 325.5 GWh, followed by Queensland at 268.3 GWh. Minimum prices reached as low as -$69.70/MWh in South Australia during the midday renewable peak.
Today · Forecasts indicate a peak price of $319.04/MWh in Queensland at 19:30, with other regions peaking between $61.84/MWh and $145.00/MWh.
Why it matters · The daily average price of $38.10/MWh sits 26% below the 7-day average, continuing a volatile trend where prices have fluctuated between $22 and $76. This low price environment was driven by a high 49.5% renewable share and 712 combined negative intervals across the NEM, which successfully offset the 17.1% drop in weekly emissions.
Prices
Trading day · 04:00 → 04:00 AEST · 30-min average
| Region | Avg | VWAP | Min | Max | Neg | Cap |
|---|---|---|---|---|---|---|
| NSW | $58 | $64 | -$7 | $300 | 16 | 0 |
| QLD | $49 | $55 | -$8 | $257 | 172 | 0 |
| SA | $22 | $22 | -$70 | $157 | 200 | 0 |
| VIC | $26 | $29 | -$61 | $253 | 210 | 0 |
| TAS | $34 | $36 | -$13 | $234 | 104 | 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 | $3,186 | 0 | $20 | 4 Sept, 08:00 |
| LOWERREG | $448 | 0 | $7 | 4 Sept, 07:45 |
| RAISE6SEC | $83 | 0 | $0 | 4 Sept, 05:45 |
| RAISE60SEC | $80 | 0 | $0 | 4 Sept, 04:05 |
| LOWER6SEC | $72 | 0 | $1 | 4 Sept, 13:30 |
| LOWER60SEC | $71 | 0 | $0 | 4 Sept, 15:20 |
| LOWER5MIN | $41 | 0 | $0 | 4 Sept, 15:45 |
| RAISE5MIN | $27 | 0 | $0 | 4 Sept, 05:55 |
| Total | $4,008 | |||
Cost = NSW RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $9,737 | 0 | $20 | 4 Sept, 08:00 |
| LOWERREG | $3,038 | 0 | $7 | 4 Sept, 07:45 |
| RAISE6SEC | $284 | 0 | $0 | 4 Sept, 05:45 |
| LOWER60SEC | $262 | 0 | $0 | 4 Sept, 15:20 |
| RAISE60SEC | $253 | 0 | $0 | 4 Sept, 04:05 |
| LOWER6SEC | $247 | 0 | $1 | 4 Sept, 13:30 |
| LOWER5MIN | $74 | 0 | $0 | 4 Sept, 15:45 |
| RAISE5MIN | $37 | 0 | $0 | 4 Sept, 05:55 |
| Total | $13,931 | |||
Cost = QLD RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $8,117 | 0 | $20 | 4 Sept, 08:00 |
| LOWERREG | $3,280 | 0 | $7 | 4 Sept, 07:45 |
| RAISE60SEC | $223 | 0 | $0 | 4 Sept, 04:05 |
| RAISE6SEC | $211 | 0 | $0 | 4 Sept, 05:45 |
| LOWER60SEC | $187 | 0 | $0 | 4 Sept, 15:20 |
| LOWER6SEC | $168 | 0 | $1 | 4 Sept, 13:30 |
| RAISE5MIN | $92 | 0 | $0 | 4 Sept, 05:55 |
| LOWER5MIN | $73 | 0 | $0 | 4 Sept, 15:45 |
| Total | $12,350 | |||
Cost = VIC RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $4,403 | 0 | $20 | 4 Sept, 08:00 |
| LOWERREG | $4,357 | 0 | $7 | 4 Sept, 07:45 |
| RAISE6SEC | $219 | 0 | $0 | 4 Sept, 05:45 |
| LOWER60SEC | $215 | 0 | $0 | 4 Sept, 15:20 |
| LOWER6SEC | $214 | 0 | $1 | 4 Sept, 13:30 |
| RAISE60SEC | $187 | 0 | $0 | 4 Sept, 04:05 |
| LOWER5MIN | $85 | 0 | $0 | 4 Sept, 15:45 |
| RAISE5MIN | $40 | 0 | $0 | 4 Sept, 05:55 |
| Total | $9,721 | |||
Cost = SA RRP × cleared MW per 5-min interval.
| Service | Cost | Spikes | Peak | When |
|---|---|---|---|---|
| RAISEREG | $18,855 | 0 | $134 | 4 Sept, 06:50 |
| LOWERREG | $4,365 | 0 | $21 | 5 Sept, 00:15 |
| RAISE6SEC | $3,462 | 0 | $123 | 4 Sept, 08:35 |
| RAISE60SEC | $739 | 0 | $0 | 4 Sept, 08:05 |
| LOWER6SEC | $20 | 0 | $3 | 4 Sept, 21:15 |
| LOWER60SEC | $15 | 0 | $1 | 4 Sept, 21:15 |
| RAISE5MIN | $6 | 0 | $0 | 4 Sept, 08:35 |
| LOWER5MIN | $0 | 0 | $0 | 4 Sept, 15:45 |
| Total | $27,462 | |||
Cost = TAS RRP × cleared MW per 5-min interval.
Battery dispatch
Peak moment
Fleet discharged 1,482 MW at 18:00 as NSW spot hit $71/MWh.
Peak moment
Fleet discharged 1,355 MW at 19:00 as QLD spot hit $67/MWh.
Peak moment
Fleet discharged 459 MW at 07:00 as VIC spot hit $211/MWh.
Peak moment
Fleet discharged 346 MW at 20:30 as SA spot hit $16/MWh.
Peak moment
Fleet discharged 3,151 MW at 18:30 as TAS spot hit $35/MWh.
Fleet net dispatch · spot-price overlay · 30-min average
Regional dispatch ranking
| Region | Discharged | Net |
|---|---|---|
#1NSW | 6,829MWh | -1,313 |
#2QLD | 5,622MWh | -833 |
#3VIC | 3,619MWh | -2,022 |
#4SA | 1,417MWh | -367 |
Generation Mix
- Coal52.0% · 102.3 GWh
- Gas0.5% · 1.0 GWh
- Hydro3.2% · 6.2 GWh
- Wind8.1% · 15.9 GWh
- Solar (utility)14.5% · 28.6 GWh
- Solar (rooftop)18.3% · 36.0 GWh
- Battery3.5% · 6.8 GWh
- Coal55.9% · 113.1 GWh
- Gas1.5% · 2.9 GWh
- Hydro2.2% · 4.5 GWh
- Wind6.7% · 13.5 GWh
- Solar (utility)13.1% · 26.4 GWh
- Solar (rooftop)17.5% · 35.5 GWh
- Battery2.8% · 5.6 GWh
- Other0.3% · 0.6 GWh
- Coal46.3% · 78.1 GWh
- Gas1.1% · 1.9 GWh
- Hydro3.1% · 5.2 GWh
- Wind33.5% · 56.5 GWh
- Solar (utility)3.7% · 6.3 GWh
- Solar (rooftop)10.2% · 17.2 GWh
- Battery2.1% · 3.6 GWh
- Gas10.9% · 5.1 GWh
- Wind73.4% · 34.4 GWh
- Solar (utility)2.1% · 1.0 GWh
- Solar (rooftop)10.6% · 5.0 GWh
- Battery3.0% · 1.4 GWh
- Gas1.7% · 0.5 GWh
- Hydro61.0% · 16.5 GWh
- Wind32.5% · 8.8 GWh
- Solar (rooftop)4.7% · 1.3 GWh
Renewables
- NSW 41.8%
- VIC 54.3%
- QLD 47.5%
- SA 100.1%
- TAS 88.6%
Interconnectors
| Region (proxy) | Net flow | Direction changes | Hours at limit |
|---|---|---|---|
| N-Q-MNSP1 | +22.2 GWh | 29 | — |
| NSW1-QLD1 | −40.4 GWh | 4 | — |
| VIC1-NSW1 | +18.8 GWh | 26 | — |
| V-SA | +16.6 GWh | 21 | — |
| T-V-MNSP1 | −11.4 GWh | 1 | — |
Per-region net of NETINTERCHANGE proxied to a representative interconnector. Full per-interconnector decomposition + hours-at-limit needs DINTERCONNECTOR parsing (follow-up).
Emissions
| NSW | 89.8k tCO₂ | 0.446 tCO₂/MWh |
| QLD | 100.5k tCO₂ | 0.490 tCO₂/MWh |
| SA | 2.4k tCO₂ | 0.050 tCO₂/MWh |
| VIC | 95.2k tCO₂ | 0.562 tCO₂/MWh |
| TAS | 282 tCO₂ | 0.011 tCO₂/MWh |