NEM
NEM Daily analysis

Monday 14 September 2026

Trading day 2026-09-14

Market Snapshot

Renewable share nears seventy-three percent as regional prices remain below fifty-five dollars

Average regional prices ranged from thirty-nine dollars and ninety cents in Victoria to fifty-two dollars and sixty cents in New South Wales. Queensland and New South Wales recorded significant negative price intervals during daylight hours while South Australia and Victoria avoided sub-zero pricing. Tasmania saw the highest price volatility with a maximum spot price of two hundred and thirteen dollars and ten cents.

Demand peaked across the mainland between 18:05 and 19:05 with New South Wales reaching eight thousand eight hundred and one megawatts. Total energy consumption for the day was highest in New South Wales at three hundred and thirty-one gigawatt hours. Coal provided forty-seven percent of the generation mix while combined solar and wind contributed nearly forty-two percent of total output.

Renewable generation reached an instantaneous peak of seventy-two point nine percent at 11:50 during the midday solar window. Batteries dispatched nineteen thousand six hundred and fifty-eight megawatt hours with a net positive discharge of four hundred and twenty-four megawatt hours. Tasmania dominated FCAS costs with multiple services peaking at the market cap during brief intervals.

Interconnector flows showed significant movement from Victoria into New South Wales and from Queensland into New South Wales via the Directlink. Total system emissions were two hundred and eighty-six thousand nine hundred and fifty-three tonnes of carbon dioxide. Hydro generation remained a minor contributor at five point one percent of the total NEM generation mix.

Today · Forecasts indicate a peak price of three hundred and nineteen dollars in Queensland at 19:30 tonight.

Why it matters · The daily average of forty-seven dollars sits four percent below the seven-day average, extending a period of moderate pricing despite high demand peaks. This stability occurred as a high renewable share and significant battery discharge offset the impact of extreme FCAS volatility in the Tasmanian region.

NSW $53VIC $40QLD $40SA $50TAS $43
Numbers-only recap · gemini-3-flash-preview

Prices

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

NSW VIC QLD SA TAS
-$10 $18 $45 $73 $100 $0 $25 $50 $75 $100 -$10 $18 $45 $73 $100 $0 $25 $50 $75 $100 -$10 $18 $45 $73 $100 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $53 $54 -$9 $85 24 0
QLD $40 $45 -$9 $82 64 0
SA $50 $51 $5 $156 0 0
VIC $40 $42 $0 $157 0 0
TAS $43 $45 -$59 $213 4 0

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

Demand

NSW
Peak
8,801MW
18:05
Trough
5,089MW
11:05
Energy
331.6GWh
QLD
Peak
7,413MW
18:20
Trough
3,776MW
13:30
Energy
267.2GWh
SA
Peak
1,780MW
19:05
Trough
814MW
13:15
Energy
62.6GWh
VIC
Peak
6,230MW
18:50
Trough
4,124MW
11:45
Energy
239.2GWh
TAS
Peak
1,121MW
08:15
Trough
721MW
15:15
Energy
44.1GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$2,3810$1614 Sept, 16:35
LOWER5MIN$8480$1014 Sept, 15:50
LOWERREG$6940$1014 Sept, 16:15
LOWER60SEC$1760$214 Sept, 15:55
RAISE6SEC$1240$014 Sept, 06:25
RAISE60SEC$1160$014 Sept, 07:40
LOWER6SEC$800$114 Sept, 14:40
RAISE5MIN$360$014 Sept, 05:55
Total$4,455

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

ServiceCostSpikesPeakWhen
RAISEREG$7,7050$1614 Sept, 16:35
LOWERREG$6,0220$1014 Sept, 16:15
LOWER5MIN$1,2110$1014 Sept, 15:50
LOWER60SEC$4920$214 Sept, 15:55
RAISE6SEC$3240$014 Sept, 06:25
RAISE60SEC$2570$014 Sept, 07:40
LOWER6SEC$1780$114 Sept, 14:40
RAISE5MIN$460$014 Sept, 05:55
Total$16,235

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

ServiceCostSpikesPeakWhen
RAISEREG$7,8480$1614 Sept, 16:35
LOWERREG$3,1480$1014 Sept, 16:15
LOWER5MIN$1,4130$1014 Sept, 15:50
LOWER60SEC$6130$214 Sept, 15:55
RAISE6SEC$2250$014 Sept, 06:25
RAISE60SEC$2220$014 Sept, 07:40
LOWER6SEC$1580$114 Sept, 14:40
RAISE5MIN$720$014 Sept, 05:55
Total$13,698

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

ServiceCostSpikesPeakWhen
LOWERREG$4,6340$1014 Sept, 16:15
RAISEREG$2,9150$1614 Sept, 16:35
RAISE60SEC$1,5850$514 Sept, 05:20
RAISE6SEC$1,5480$514 Sept, 05:45
LOWER5MIN$1,3750$1014 Sept, 15:50
LOWER60SEC$6570$214 Sept, 15:55
LOWER6SEC$6510$214 Sept, 21:25
RAISE5MIN$1520$015 Sept, 03:10
Total$13,517

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

ServiceCostSpikesPeakWhen
LOWER6SEC$963,3176$23,20014 Sept, 14:40
RAISE6SEC$412,9002$23,19014 Sept, 14:40
LOWERREG$209,3762$23,20014 Sept, 14:40
RAISEREG$206,5452$23,20014 Sept, 14:40
RAISE60SEC$1,6820$314 Sept, 14:40
LOWER60SEC$4080$114 Sept, 13:15
LOWER5MIN$1790$214 Sept, 16:30
RAISE5MIN$1600$014 Sept, 05:35
Total$1.79M

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

Battery dispatch

Peak moment

Fleet discharged 1,408 MW at 18:00 as NSW spot hit $72/MWh.

Peak moment

Fleet discharged 1,444 MW at 18:30 as QLD spot hit $76/MWh.

Peak moment

Fleet discharged 895 MW at 07:00 as VIC spot hit $46/MWh.

Peak moment

Fleet discharged 201 MW at 22:00 as SA spot hit $50/MWh.

Peak moment

Fleet discharged 3,720 MW at 18:30 as TAS spot hit $57/MWh.

Discharged
7,095MWh
peak 1,408 MW · 18:00
Charged
7,701MWh
peak 1,760 MW
Net
-605MWh
discharge − charge
Round-trip
92%
discharge / charge ratio
Discharged
5,237MWh
peak 1,444 MW · 18:30
Charged
6,231MWh
peak 1,249 MW
Net
-993MWh
discharge − charge
Round-trip
84%
discharge / charge ratio
Discharged
5,608MWh
peak 895 MW · 07:00
Charged
3,827MWh
peak 1,063 MW
Net
+1,781MWh
discharge − charge
Round-trip
147%
discharge / charge ratio
Discharged
1,717MWh
peak 201 MW · 22:00
Charged
1,476MWh
peak 314 MW
Net
+241MWh
discharge − charge
Round-trip
116%
discharge / charge ratio
NEM-wide
Discharged
19,658MWh
peak 3,720 MW · 18:30
Charged
19,234MWh
peak 3,685 MW
Net
+424MWh
discharge − charge
Round-trip
102%
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
#1NSW
7,095MWh
-605
#2VIC
5,608MWh
+1,781
#3QLD
5,237MWh
-993
#4SA
1,717MWh
+241

Generation Mix

TOP FUEL 50.9%
  • Coal50.9% · 100.7 GWh
  • Gas0.6% · 1.2 GWh
  • Hydro2.4% · 4.8 GWh
  • Wind12.2% · 24.1 GWh
  • Solar (utility)13.9% · 27.5 GWh
  • Solar (rooftop)16.3% · 32.2 GWh
  • Battery3.6% · 7.1 GWh
  • Other0.2% · 0.4 GWh
TOP FUEL 50.7%
  • Coal50.7% · 96.6 GWh
  • Gas1.8% · 3.5 GWh
  • Hydro1.8% · 3.5 GWh
  • Wind11.1% · 21.2 GWh
  • Solar (utility)14.2% · 27.0 GWh
  • Solar (rooftop)17.5% · 33.4 GWh
  • Battery2.8% · 5.2 GWh
TOP FUEL 59.0%
  • Coal59.0% · 90.9 GWh
  • Gas0.1% · 0.2 GWh
  • Hydro2.8% · 4.3 GWh
  • Wind20.9% · 32.2 GWh
  • Solar (utility)3.3% · 5.1 GWh
  • Solar (rooftop)9.0% · 13.9 GWh
  • Battery3.6% · 5.6 GWh
  • Other1.2% · 1.8 GWh
TOP FUEL 48.4%
  • Gas17.3% · 6.2 GWh
  • Wind48.4% · 17.5 GWh
  • Solar (utility)8.3% · 3.0 GWh
  • Solar (rooftop)20.5% · 7.4 GWh
  • Battery4.8% · 1.7 GWh
  • Other0.7% · 0.2 GWh
TOP FUEL 58.3%
  • Gas10.3% · 3.3 GWh
  • Hydro58.3% · 18.5 GWh
  • Wind26.8% · 8.5 GWh
  • Solar (rooftop)4.6% · 1.4 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0010.5 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:009.8 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:007.7 GW 0
gasbattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:002.1 GW 0
gashydrowindsolar rooftop
23:3005:3711:4517:5200:001.7 GW 0

Renewables

NSW · Daily renewable share
43.9%
VIC · Daily renewable share
42.6%
QLD · Daily renewable share
50.9%
SA · Daily renewable share
72.9%
TAS · Daily renewable share
106.0%
Peak instantaneous
72.9%
at 11:50
Daily NEM-wide share
47.6%
By region (daily share)
  • NSW
    43.9%
  • VIC
    42.6%
  • QLD
    50.9%
  • SA
    72.9%
  • TAS
    106.0%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +18.7 GWh 16
NSW1-QLD1 −33.4 GWh 6
VIC1-NSW1 +17.4 GWh 12
V-SA −7.3 GWh 14
T-V-MNSP1 +8.5 GWh 12

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
287.0k tCO₂
▲ 0.3% vs same day last week
Intensity by region
NSW 87.8k tCO₂ 0.433 tCO₂/MWh
QLD 86.6k tCO₂ 0.447 tCO₂/MWh
SA 3.1k tCO₂ 0.084 tCO₂/MWh
VIC 107.5k tCO₂ 0.694 tCO₂/MWh
TAS 2.0k tCO₂ 0.063 tCO₂/MWh