NEM
NEM Daily analysis

Thursday 1 October 2026

Trading day 2026-10-01

Market Snapshot

NEM average price reached $100.4/MWh with SA and VIC at $126.3/MWh

Regional prices were highest in SA and VIC at $126.3/MWh, followed by TAS at $114.0/MWh and NSW at $94.1/MWh. These four regions recorded zero negative intervals and zero cap intervals throughout the day. QLD averaged $55.2/MWh, registering 15.7 hours of negative prices that comprised 65.3 per cent of its trading intervals.

Demand peaked at 18:35 in NSW, QLD and VIC, reaching 8,905 MW, 7,315 MW and 6,848 MW respectively. SA demand peaked at 1,615 MW at 19:10, while TAS reached 1,178 MW at 08:35.

Coal generated 47.2 per cent of NEM energy, while wind and hydro contributed 12.6 per cent and 8.4 per cent respectively. Rooftop and utility solar provided 14.6 per cent and 8.9 per cent of the mix. Batteries discharged 16,796 MWh across the day, finishing with a net position of -482 MWh.

FCAS markets recorded zero price spikes across all eight services during the trading day. The highest total cost was $44,340 for the raise regulation service, which reached a peak price of $139/MW in TAS.

Total NEM emissions were 301,878 tonnes of carbon dioxide, 0.7 per cent above the same weekday last week.

Today · Pre-dispatch forecasts indicate a peak price of $319.04/MWh in QLD at 19:30. SA is forecast to reach $145.0/MWh at 18:30.

In context · The NEM average price of $100.4/MWh was 90.9 per cent above the seven-day average, ranking highest for the week. SA, VIC, TAS and NSW also ranked first within their seven-day ranges. The NEM average was above the $82.8/MWh recorded on the same weekday last week.

NSW $94VIC $126QLD $55SA $126TAS $114
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 $38 $75 $113 $150 $0 $58 $115 $173 $230 -$50 -$5 $40 $85 $130 $0 $58 $115 $173 $230 $0 $48 $95 $143 $190 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $94 $98 $1 $146 0 0
QLD $55 $66 -$176 $121 188 0
SA $126 $127 $70 $267 0 0
VIC $126 $127 $76 $270 0 0
TAS $114 $115 $75 $247 0 0

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

Demand

NSW
Peak
8,905MW
18:35
Trough
4,562MW
11:30
Energy
327.9GWh
QLD
Peak
7,315MW
18:35
Trough
3,320MW
12:40
Energy
259.8GWh
SA
Peak
1,615MW
19:10
Trough
793MW
12:50
Energy
63.8GWh
VIC
Peak
6,848MW
18:35
Trough
4,305MW
04:25
Energy
275.4GWh
TAS
Peak
1,178MW
08:35
Trough
850MW
12:00
Energy
49.2GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$8,9270$161 Oct, 15:45
LOWERREG$3,1890$71 Oct, 19:15
RAISE6SEC$2310$01 Oct, 23:20
RAISE60SEC$2060$01 Oct, 17:30
LOWER60SEC$1850$11 Oct, 13:20
LOWER6SEC$480$01 Oct, 13:20
LOWER5MIN$430$01 Oct, 14:40
RAISE5MIN$350$01 Oct, 19:05
Total$12,864

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

ServiceCostSpikesPeakWhen
RAISEREG$9,7600$161 Oct, 15:45
LOWERREG$3,4100$71 Oct, 19:15
RAISE6SEC$4380$01 Oct, 23:20
RAISE60SEC$3700$01 Oct, 17:30
LOWER60SEC$2450$11 Oct, 13:20
LOWER5MIN$440$01 Oct, 14:40
RAISE5MIN$410$01 Oct, 19:05
LOWER6SEC$380$01 Oct, 13:20
Total$14,348

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

ServiceCostSpikesPeakWhen
RAISEREG$8,4710$161 Oct, 15:45
LOWERREG$3,2230$71 Oct, 19:15
RAISE6SEC$5240$01 Oct, 23:20
RAISE60SEC$4840$01 Oct, 17:30
LOWER60SEC$3610$11 Oct, 13:20
RAISE5MIN$870$01 Oct, 19:05
LOWER5MIN$690$01 Oct, 14:40
LOWER6SEC$570$01 Oct, 13:20
Total$13,275

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

ServiceCostSpikesPeakWhen
RAISEREG$3,0780$161 Oct, 15:45
LOWERREG$3,0570$71 Oct, 19:15
LOWER60SEC$4560$11 Oct, 13:20
RAISE6SEC$4160$01 Oct, 23:20
RAISE60SEC$3670$01 Oct, 17:30
LOWER6SEC$1260$01 Oct, 13:20
LOWER5MIN$900$01 Oct, 14:40
RAISE5MIN$600$01 Oct, 19:05
Total$7,650

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

ServiceCostSpikesPeakWhen
RAISEREG$14,1040$1391 Oct, 08:15
LOWERREG$5,5140$251 Oct, 05:15
LOWER6SEC$3,1880$381 Oct, 05:15
RAISE6SEC$8620$331 Oct, 07:40
RAISE60SEC$3210$31 Oct, 13:20
LOWER60SEC$1880$21 Oct, 04:35
RAISE5MIN$160$01 Oct, 07:20
LOWER5MIN$00$01 Oct, 14:40
Total$24,192

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

Battery dispatch

Peak moment

Fleet discharged 988 MW at 19:30 as NSW spot hit $118/MWh.

Peak moment

Fleet discharged 1,648 MW at 18:30 as QLD spot hit $104/MWh.

Peak moment

Fleet discharged 673 MW at 19:30 as VIC spot hit $119/MWh.

Peak moment

Fleet discharged 279 MW at 23:30 as SA spot hit $160/MWh.

Peak moment

Fleet discharged 3,303 MW at 19:00 as TAS spot hit $107/MWh.

Discharged
5,277MWh
peak 988 MW · 19:30
Charged
6,143MWh
peak 1,247 MW
Net
-865MWh
discharge − charge
Round-trip
86%
discharge / charge ratio
Discharged
5,684MWh
peak 1,648 MW · 18:30
Charged
6,682MWh
peak 1,404 MW
Net
-999MWh
discharge − charge
Round-trip
85%
discharge / charge ratio
Discharged
4,215MWh
peak 673 MW · 19:30
Charged
3,278MWh
peak 931 MW
Net
+937MWh
discharge − charge
Round-trip
129%
discharge / charge ratio
Discharged
1,621MWh
peak 279 MW · 23:30
Charged
1,176MWh
peak 376 MW
Net
+446MWh
discharge − charge
Round-trip
138%
discharge / charge ratio
NEM-wide
Discharged
16,796MWh
peak 3,303 MW · 19:00
Charged
17,278MWh
peak 3,163 MW
Net
-482MWh
discharge − charge
Round-trip
97%
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-$100$0$100$200$30023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1QLD
5,684MWh
-999
#2NSW
5,277MWh
-865
#3VIC
4,215MWh
+937
#4SA
1,621MWh
+446

Generation Mix

TOP FUEL 46.8%
  • Coal46.8% · 94.7 GWh
  • Gas3.2% · 6.4 GWh
  • Hydro2.9% · 5.9 GWh
  • Wind10.8% · 21.8 GWh
  • Solar (utility)13.5% · 27.4 GWh
  • Solar (rooftop)20.1% · 40.8 GWh
  • Battery2.6% · 5.3 GWh
  • Other0.1% · 0.2 GWh
TOP FUEL 52.1%
  • Coal52.1% · 106.9 GWh
  • Gas2.8% · 5.7 GWh
  • Hydro2.5% · 5.1 GWh
  • Wind8.8% · 18.0 GWh
  • Solar (utility)11.4% · 23.4 GWh
  • Solar (rooftop)19.3% · 39.6 GWh
  • Battery2.8% · 5.7 GWh
  • Other0.3% · 0.6 GWh
TOP FUEL 64.1%
  • Coal64.1% · 91.9 GWh
  • Gas3.6% · 5.2 GWh
  • Hydro8.6% · 12.3 GWh
  • Wind14.4% · 20.7 GWh
  • Solar (utility)2.3% · 3.3 GWh
  • Solar (rooftop)3.3% · 4.8 GWh
  • Battery2.9% · 4.2 GWh
  • Other0.7% · 1.0 GWh
TOP FUEL 41.1%
  • Gas41.1% · 14.7 GWh
  • Wind38.1% · 13.6 GWh
  • Solar (utility)2.6% · 0.9 GWh
  • Solar (rooftop)12.4% · 4.4 GWh
  • Battery4.5% · 1.6 GWh
  • Other1.3% · 0.5 GWh
TOP FUEL 82.2%
  • Gas2.0% · 0.7 GWh
  • Hydro82.2% · 28.8 GWh
  • Wind12.6% · 4.4 GWh
  • Solar (rooftop)3.3% · 1.1 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0010.8 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0010.0 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:007.5 GW 0
gasbattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:002.3 GW 0
gashydrowindsolar rooftop
23:3005:3711:4517:5200:001.7 GW 0

Renewables

NSW · Daily renewable share
46.3%
VIC · Daily renewable share
30.1%
QLD · Daily renewable share
51.1%
SA · Daily renewable share
54.8%
TAS · Daily renewable share
124.0%
Peak instantaneous
72.8%
at 12:50
Daily NEM-wide share
45.0%
By region (daily share)
  • NSW
    46.3%
  • VIC
    30.1%
  • QLD
    51.1%
  • SA
    54.8%
  • TAS
    124.0%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +40.2 GWh 0 —
NSW1-QLD1 −27.7 GWh 6 —
VIC1-NSW1 −15.3 GWh 18 —
V-SA −7.0 GWh 24 —
T-V-MNSP1 +14.2 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
301.9k tCO₂
▲ 0.7% vs same day last week
Intensity by region
NSW 85.3k tCO₂ 0.416 tCO₂/MWh
QLD 96.6k tCO₂ 0.464 tCO₂/MWh
SA 7.6k tCO₂ 0.209 tCO₂/MWh
VIC 111.9k tCO₂ 0.777 tCO₂/MWh
TAS 459 tCO₂ 0.013 tCO₂/MWh