NEM
NEM Daily analysis

Monday 21 September 2026

Trading day 2026-09-21

Market Snapshot

NSW recorded the highest regional average price at $97.0/MWh

NSW and QLD recorded no negative intervals. SA recorded 14.8 hours of negative prices, representing 61.8 per cent of the day. VIC and TAS recorded 14.0 and 13.7 negative hours respectively.

NSW demand peaked at 8915 MW at 18:05. QLD demand reached 7716 MW at 18:00. VIC demand peaked at 6773 MW at 19:00.

Coal supplied 42.9 per cent of generation, followed by rooftop solar at 18.1 per cent and wind at 17.8 per cent. Batteries discharged 17,808 MWh with a net output of 1044 MWh. Total emissions were 264,971 tonnes of carbon dioxide.

AEMO's notice at 14:40 stated a foreseeable intervention in the SA region. AEMO's notice at 15:28 stated an update to this foreseeable intervention. AEMO's notices at 17:00 stated a direction in the SA region to AGL SA Generation for Torrens Island.

Today · Pre-dispatch forecasts show QLD reaching $319.04/MWh at 19:30. SA is forecast to reach $145.0/MWh at 18:30.

In context · The NEM average of $54.0/MWh was above the seven-day average of $40.0/MWh, ranking second for the week. The NSW average of $97.0/MWh ranked first in its seven-day range of $43.9/MWh to $97.0/MWh.

NSW $97VIC $44QLD $87SA $42TAS $43
Numbers-only recap · gemini-3.1-pro-preview

Prices

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

NSW VIC QLD SA TAS
$0 $48 $95 $143 $190 -$10 $25 $60 $95 $130 $0 $48 $95 $143 $190 -$10 $23 $55 $88 $120 -$10 $23 $55 $88 $120 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $97 $102 $42 $231 0 0
QLD $87 $95 $7 $224 0 0
SA $42 $54 -$14 $110 178 0
VIC $44 $52 -$14 $122 168 0
TAS $43 $46 -$15 $109 164 0

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

Demand

NSW
Peak
8,915MW
18:05
Trough
4,979MW
11:00
Energy
328.6GWh
QLD
Peak
7,716MW
18:00
Trough
3,345MW
10:55
Energy
267.5GWh
SA
Peak
1,768MW
19:10
Trough
508MW
13:35
Energy
57.0GWh
VIC
Peak
6,773MW
19:00
Trough
3,172MW
14:25
Energy
235.6GWh
TAS
Peak
1,266MW
18:30
Trough
836MW
11:55
Energy
48.7GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$4,5190$821 Sept, 06:20
LOWERREG$1,5800$521 Sept, 17:05
RAISE6SEC$980$021 Sept, 06:20
LOWER5MIN$950$021 Sept, 14:40
LOWER60SEC$890$021 Sept, 14:30
RAISE60SEC$760$021 Sept, 05:55
LOWER6SEC$500$021 Sept, 14:40
RAISE5MIN$300$021 Sept, 06:20
Total$6,537

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

ServiceCostSpikesPeakWhen
RAISEREG$8,3750$821 Sept, 06:20
LOWERREG$3,8980$521 Sept, 17:05
RAISE6SEC$2480$021 Sept, 06:20
LOWER60SEC$2400$021 Sept, 14:30
LOWER5MIN$1780$021 Sept, 14:40
RAISE60SEC$1520$021 Sept, 05:55
LOWER6SEC$880$021 Sept, 14:40
RAISE5MIN$420$021 Sept, 06:20
Total$13,221

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

ServiceCostSpikesPeakWhen
RAISEREG$8,1620$821 Sept, 06:20
LOWERREG$1,3470$521 Sept, 17:05
LOWER60SEC$1940$021 Sept, 14:30
RAISE6SEC$1840$021 Sept, 06:20
RAISE60SEC$1610$021 Sept, 05:55
LOWER5MIN$1240$021 Sept, 14:40
RAISE5MIN$830$021 Sept, 06:20
LOWER6SEC$770$021 Sept, 14:40
Total$10,331

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

ServiceCostSpikesPeakWhen
RAISEREG$3,8050$821 Sept, 06:20
LOWERREG$2,3810$521 Sept, 17:05
LOWER60SEC$8390$521 Sept, 16:40
LOWER6SEC$2280$121 Sept, 16:45
LOWER5MIN$2280$221 Sept, 16:45
RAISE6SEC$1650$021 Sept, 06:20
RAISE60SEC$1250$021 Sept, 05:55
RAISE5MIN$430$021 Sept, 06:20
Total$7,814

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

ServiceCostSpikesPeakWhen
LOWERREG$25,4950$9621 Sept, 11:55
RAISEREG$10,0400$2221 Sept, 17:50
RAISE6SEC$1,4810$2921 Sept, 17:25
RAISE60SEC$6220$021 Sept, 04:05
LOWER6SEC$370$122 Sept, 03:45
LOWER60SEC$220$021 Sept, 14:30
RAISE5MIN$130$021 Sept, 17:20
LOWER5MIN$120$021 Sept, 14:40
Total$37,722

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

Battery dispatch

Peak moment

Fleet discharged 1,438 MW at 19:00 as NSW spot hit $168/MWh.

Peak moment

Fleet discharged 1,572 MW at 18:00 as QLD spot hit $152/MWh.

Peak moment

Fleet discharged 683 MW at 07:00 as VIC spot hit $26/MWh.

Peak moment

Fleet discharged 549 MW at 06:30 as SA spot hit $40/MWh.

Peak moment

Fleet discharged 3,604 MW at 18:30 as TAS spot hit $90/MWh.

Discharged
6,719MWh
peak 1,438 MW · 19:00
Charged
6,215MWh
peak 1,119 MW
Net
+504MWh
discharge − charge
Round-trip
108%
discharge / charge ratio
Discharged
5,430MWh
peak 1,572 MW · 18:00
Charged
6,862MWh
peak 1,094 MW
Net
-1,432MWh
discharge − charge
Round-trip
79%
discharge / charge ratio
Discharged
3,601MWh
peak 683 MW · 07:00
Charged
2,175MWh
peak 436 MW
Net
+1,426MWh
discharge − charge
Round-trip
166%
discharge / charge ratio
Discharged
2,058MWh
peak 549 MW · 06:30
Charged
1,512MWh
peak 328 MW
Net
+546MWh
discharge − charge
Round-trip
136%
discharge / charge ratio
NEM-wide
Discharged
17,808MWh
peak 3,604 MW · 18:30
Charged
16,764MWh
peak 2,575 MW
Net
+1,044MWh
discharge − charge
Round-trip
106%
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$100$150$20023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
6,719MWh
+504
#2QLD
5,430MWh
-1,432
#3VIC
3,601MWh
+1,426
#4SA
2,058MWh
+546

Generation Mix

TOP FUEL 46.6%
  • Coal46.6% · 99.1 GWh
  • Gas2.6% · 5.6 GWh
  • Hydro5.3% · 11.4 GWh
  • Wind12.9% · 27.4 GWh
  • Solar (utility)11.1% · 23.7 GWh
  • Solar (rooftop)17.8% · 38.0 GWh
  • Battery3.2% · 6.7 GWh
  • Other0.4% · 0.9 GWh
TOP FUEL 53.2%
  • Coal53.2% · 102.4 GWh
  • Gas5.0% · 9.6 GWh
  • Hydro1.6% · 3.1 GWh
  • Wind4.0% · 7.8 GWh
  • Solar (utility)12.5% · 24.1 GWh
  • Solar (rooftop)20.8% · 40.1 GWh
  • Battery2.8% · 5.4 GWh
TOP FUEL 44.1%
  • Coal44.1% · 65.2 GWh
  • Gas1.5% · 2.2 GWh
  • Hydro0.8% · 1.2 GWh
  • Wind29.2% · 43.1 GWh
  • Solar (utility)5.5% · 8.1 GWh
  • Solar (rooftop)15.4% · 22.8 GWh
  • Battery2.4% · 3.6 GWh
  • Other1.0% · 1.4 GWh
TOP FUEL 52.8%
  • Gas10.8% · 4.6 GWh
  • Wind52.8% · 22.7 GWh
  • Solar (utility)6.8% · 2.9 GWh
  • Solar (rooftop)23.6% · 10.1 GWh
  • Battery4.8% · 2.1 GWh
  • Other1.3% · 0.5 GWh
TOP FUEL 48.9%
  • Gas6.4% · 1.7 GWh
  • Hydro48.9% · 12.7 GWh
  • Wind37.7% · 9.8 GWh
  • Solar (rooftop)6.9% · 1.8 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0011.2 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:0010.4 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:006.9 GW 0
gasbattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:002.3 GW 0
gashydrowindsolar rooftop
23:3005:3711:4517:5200:001.6 GW 0

Renewables

NSW · Daily renewable share
47.8%
VIC · Daily renewable share
53.5%
QLD · Daily renewable share
44.1%
SA · Daily renewable share
92.3%
TAS · Daily renewable share
82.5%
Peak instantaneous
78.9%
at 11:15
Daily NEM-wide share
50.1%
By region (daily share)
  • NSW
    47.8%
  • VIC
    53.5%
  • QLD
    44.1%
  • SA
    92.3%
  • TAS
    82.5%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +16.9 GWh 5
NSW1-QLD1 −10.1 GWh 33
VIC1-NSW1 −5.9 GWh 13
V-SA +4.2 GWh 23
T-V-MNSP1 −3.0 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
265.0k tCO₂
▼ 7.7% vs same day last week
Intensity by region
NSW 89.2k tCO₂ 0.414 tCO₂/MWh
QLD 94.1k tCO₂ 0.479 tCO₂/MWh
SA 2.3k tCO₂ 0.053 tCO₂/MWh
VIC 78.3k tCO₂ 0.532 tCO₂/MWh
TAS 1.0k tCO₂ 0.040 tCO₂/MWh