NEM
NEM Daily analysis

Saturday 26 September 2026

Trading day 2026-09-26

Market Snapshot

Tasmania reaches minus 1000 $/MWh as NEM average records 44.2 $/MWh

New South Wales averaged 53.9 $/MWh and Queensland averaged 51.1 $/MWh. South Australia recorded 25.1 $/MWh with 8.0 hours of negative prices. Victoria averaged 20.5 $/MWh. Tasmania averaged 18.4 $/MWh with 9.2 hours of negative prices.

New South Wales recorded the highest demand peak of 8884 MW at 17:40. Coal supplied 47.0 per cent of NEM generation, wind provided 18.3 per cent and rooftop solar contributed 14.0 per cent. Batteries discharged 16608 MWh with a net position of minus 3635 MWh.

The RAISE6SEC service cost 574651 dollars, featuring two spike intervals and a peak price of 23190 $/MW in Tasmania. Total emissions were 281104 tonnes of carbon dioxide, 23.1 per cent above the same weekday last week.

AEMO issued notices for foreseeable intervention in South Australia at 11:27 and 12:46. AEMO issued direction notices for the South Australia region at 14:04 and 14:05. South Australia recorded minus 15.6 $/MWh at 16:20. AEMO issued a notice for prices subject to review at 16:15.

Today · Pre-dispatch forecasts indicate Queensland will reach 319.04 $/MWh at 19:30. South Australia is forecast to reach 145.0 $/MWh at 18:30.

In context · The NEM average of 44.2 $/MWh was below the seven day average of 62.1 $/MWh, ranking sixth for the week. The Tasmania average of 18.4 $/MWh was below its seven day average of 48.4 $/MWh and below the 22.35 $/MWh recorded on the same weekday last week.

NSW $54VIC $21QLD $51SA $25TAS $18
Numbers-only recap · gemini-3.1-pro-preview

Prices

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

NSW VIC QLD SA TAS
-$10 $20 $50 $80 $110 -$20 $15 $50 $85 $120 -$10 $18 $45 $73 $100 -$20 $18 $55 $93 $130 -$230 -$140 -$50 $40 $130 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $54 $60 -$5 $102 18 0
QLD $51 $57 -$5 $91 18 0
SA $25 $24 -$16 $136 96 0
VIC $21 $19 -$15 $209 64 0
TAS $18 $19 -$1000 $490 110 0

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

Demand

NSW
Peak
8,884MW
17:40
Trough
4,205MW
11:05
Energy
313.2GWh
QLD
Peak
7,004MW
18:30
Trough
3,607MW
13:35
Energy
256.9GWh
SA
Peak
1,691MW
18:50
Trough
834MW
12:50
Energy
63.3GWh
VIC
Peak
6,164MW
18:45
Trough
4,171MW
04:20
Energy
242.8GWh
TAS
Peak
1,298MW
19:00
Trough
894MW
15:20
Energy
51.6GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$4,3070$1226 Sept, 09:55
LOWERREG$1,4840$426 Sept, 06:40
LOWER5MIN$2130$326 Sept, 16:05
LOWER60SEC$2090$226 Sept, 15:55
RAISE60SEC$1350$027 Sept, 00:05
RAISE6SEC$1200$026 Sept, 05:10
RAISE5MIN$610$026 Sept, 21:20
LOWER6SEC$610$026 Sept, 14:20
Total$6,591

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

ServiceCostSpikesPeakWhen
RAISEREG$5,8120$1226 Sept, 09:55
LOWERREG$2,8230$426 Sept, 06:40
LOWER60SEC$3710$226 Sept, 15:55
LOWER5MIN$3520$326 Sept, 16:05
RAISE6SEC$2440$026 Sept, 05:10
RAISE60SEC$2270$027 Sept, 00:05
LOWER6SEC$780$026 Sept, 14:20
RAISE5MIN$440$026 Sept, 21:20
Total$9,951

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

ServiceCostSpikesPeakWhen
RAISEREG$10,3830$1226 Sept, 09:55
LOWERREG$2,1980$426 Sept, 06:40
RAISE60SEC$3920$027 Sept, 00:05
LOWER60SEC$3500$226 Sept, 15:55
RAISE6SEC$3460$026 Sept, 05:10
LOWER5MIN$1730$326 Sept, 16:05
RAISE5MIN$1570$026 Sept, 21:20
LOWER6SEC$1050$026 Sept, 14:20
Total$14,104

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

ServiceCostSpikesPeakWhen
LOWERREG$3,6680$426 Sept, 06:40
RAISEREG$1,8970$1226 Sept, 09:55
LOWER60SEC$6170$226 Sept, 15:55
LOWER5MIN$5390$326 Sept, 16:05
RAISE6SEC$2130$026 Sept, 05:10
RAISE60SEC$2110$027 Sept, 00:05
LOWER6SEC$1480$026 Sept, 14:20
RAISE5MIN$670$026 Sept, 21:20
Total$7,360

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

ServiceCostSpikesPeakWhen
RAISE6SEC$573,7282$23,19026 Sept, 10:00
RAISEREG$56,4182$4,60626 Sept, 10:00
LOWERREG$13,6670$12226 Sept, 07:35
LOWER6SEC$1,1900$4026 Sept, 06:50
RAISE60SEC$6820$026 Sept, 05:45
LOWER60SEC$1710$226 Sept, 15:55
LOWER5MIN$1070$326 Sept, 16:05
RAISE5MIN$60$026 Sept, 06:20
Total$645,970

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

Battery dispatch

Peak moment

Fleet discharged 1,487 MW at 18:30 as NSW spot hit $79/MWh.

Peak moment

Fleet discharged 1,236 MW at 18:00 as QLD spot hit $80/MWh.

Peak moment

Fleet discharged 874 MW at 20:30 as VIC spot hit $9/MWh.

Peak moment

Fleet discharged 431 MW at 20:30 as SA spot hit $36/MWh.

Peak moment

Fleet discharged 3,446 MW at 19:00 as TAS spot hit $20/MWh.

Discharged
6,239MWh
peak 1,487 MW · 18:30
Charged
7,736MWh
peak 1,351 MW
Net
-1,497MWh
discharge − charge
Round-trip
81%
discharge / charge ratio
Discharged
5,379MWh
peak 1,236 MW · 18:00
Charged
6,416MWh
peak 1,174 MW
Net
-1,037MWh
discharge − charge
Round-trip
84%
discharge / charge ratio
Discharged
3,315MWh
peak 874 MW · 20:30
Charged
3,980MWh
peak 1,021 MW
Net
-665MWh
discharge − charge
Round-trip
83%
discharge / charge ratio
Discharged
1,675MWh
peak 431 MW · 20:30
Charged
2,111MWh
peak 513 MW
Net
-436MWh
discharge − charge
Round-trip
79%
discharge / charge ratio
NEM-wide
Discharged
16,608MWh
peak 3,446 MW · 19:00
Charged
20,243MWh
peak 3,562 MW
Net
-3,635MWh
discharge − charge
Round-trip
82%
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-$300-$200-$100$0$100$20023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
6,239MWh
-1,497
#2QLD
5,379MWh
-1,037
#3VIC
3,315MWh
-665
#4SA
1,675MWh
-436

Generation Mix

TOP FUEL 44.9%
  • Coal44.9% · 95.5 GWh
  • Gas0.5% · 1.0 GWh
  • Hydro5.8% · 12.3 GWh
  • Wind11.7% · 24.8 GWh
  • Solar (utility)15.4% · 32.7 GWh
  • Solar (rooftop)18.9% · 40.2 GWh
  • Battery2.9% · 6.2 GWh
TOP FUEL 55.7%
  • Coal55.7% · 103.0 GWh
  • Gas1.5% · 2.7 GWh
  • Hydro2.1% · 3.8 GWh
  • Wind9.0% · 16.7 GWh
  • Solar (utility)11.7% · 21.7 GWh
  • Solar (rooftop)17.0% · 31.4 GWh
  • Battery2.9% · 5.4 GWh
  • Other0.1% · 0.2 GWh
TOP FUEL 58.8%
  • Coal58.8% · 85.9 GWh
  • Gas0.2% · 0.3 GWh
  • Hydro0.8% · 1.1 GWh
  • Wind28.1% · 41.0 GWh
  • Solar (utility)4.8% · 7.0 GWh
  • Solar (rooftop)5.1% · 7.4 GWh
  • Battery2.3% · 3.3 GWh
TOP FUEL 67.0%
  • Gas12.1% · 4.4 GWh
  • Wind67.0% · 24.3 GWh
  • Solar (utility)3.6% · 1.3 GWh
  • Solar (rooftop)12.7% · 4.6 GWh
  • Battery4.6% · 1.7 GWh
TOP FUEL 67.4%
  • Gas12.4% · 3.1 GWh
  • Hydro67.4% · 16.8 GWh
  • Wind15.8% · 3.9 GWh
  • Solar (rooftop)4.3% · 1.1 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:0012.1 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:008.9 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:008.3 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:002.6 GW 0
gashydrowindsolar rooftop
23:3005:3711:4517:5200:001.4 GW 0

Renewables

NSW · Daily renewable share
52.2%
VIC · Daily renewable share
42.9%
QLD · Daily renewable share
46.5%
SA · Daily renewable share
82.4%
TAS · Daily renewable share
74.4%
Peak instantaneous
74.8%
at 13:10
Daily NEM-wide share
48.3%
By region (daily share)
  • NSW
    52.2%
  • VIC
    42.9%
  • QLD
    46.5%
  • SA
    82.4%
  • TAS
    74.4%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +15.1 GWh 26 —
NSW1-QLD1 −18.0 GWh 8 —
VIC1-NSW1 +20.6 GWh 26 —
V-SA +316 MWh 1 —
T-V-MNSP1 −14.3 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
281.1k tCO₂
▲ 23.1% vs same day last week
Intensity by region
NSW 83.6k tCO₂ 0.386 tCO₂/MWh
QLD 91.8k tCO₂ 0.488 tCO₂/MWh
SA 2.0k tCO₂ 0.053 tCO₂/MWh
VIC 101.9k tCO₂ 0.693 tCO₂/MWh
TAS 1.9k tCO₂ 0.077 tCO₂/MWh