NEM
NEM Daily analysis

Friday 2 October 2026

Trading day 2026-10-02

Market Snapshot

Queensland records 17 hours of negative prices as NSW averages 96 dollars

Prices ranged from $52.2/MWh in QLD to $96.8/MWh in NSW. QLD recorded 17 hours of negative prices, while VIC recorded 30 minutes. No region recorded cap intervals, with the highest price reaching $124.4/MWh in VIC at 19:35.

NSW recorded the highest demand peak at 8906 MW at 17:40. QLD demand peaked at 7259 MW at 18:20, and VIC reached 6682 MW at 11:10.

Coal supplied 47.2 per cent of generation, followed by wind at 20.9 per cent and rooftop solar at 13.8 per cent. Batteries discharged 14552 MWh, finishing with a net position of minus 1826 MWh. Total FCAS costs were low, with regulation raise in NSW recording the highest cost at $33983.

AEMO issued a market intervention notice at 11:45 for a direction in SA to Barker Inlet PS. A second market intervention notice for a SA direction followed at 12:08.

Total emissions were 290150 tonnes of carbon dioxide, 5.5 per cent below the same weekday last week.

Today · Pre-dispatch forecasts show QLD prices peaking at $319.04/MWh at 19:30, with SA reaching $145.00/MWh at 18:30.

In context · The NSW average of $96.8/MWh was the highest for the region in the past seven days. The NEM average was below the $78.1/MWh recorded on the same weekday last week.

NSW $97VIC $59QLD $52SA $68TAS $67
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 $33 $65 $98 $130 -$10 $25 $60 $95 $130 -$10 $23 $55 $88 $120 $0 $33 $65 $98 $130 $0 $33 $65 $98 $130 04:00 10:00 16:00 22:00 04:00
Region Avg VWAP Min Max Neg Cap
NSW $97 $98 $47 $123 0 0
QLD $52 $62 -$13 $110 204 0
SA $68 $73 $2 $118 0 0
VIC $59 $61 -$1 $124 6 0
TAS $67 $69 $0 $117 0 0

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

Demand

NSW
Peak
8,906MW
17:40
Trough
5,746MW
11:55
Energy
348.9GWh
QLD
Peak
7,259MW
18:20
Trough
3,196MW
12:30
Energy
258.9GWh
SA
Peak
1,593MW
19:55
Trough
446MW
11:25
Energy
55.5GWh
VIC
Peak
6,682MW
11:10
Trough
4,248MW
04:00
Energy
273.5GWh
TAS
Peak
1,230MW
19:05
Trough
849MW
14:10
Energy
49.8GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$6,7740$82 Oct, 08:35
LOWERREG$2,1240$52 Oct, 05:40
RAISE60SEC$1380$02 Oct, 05:30
RAISE6SEC$1360$02 Oct, 05:40
LOWER60SEC$1170$02 Oct, 13:45
RAISE5MIN$550$02 Oct, 18:25
LOWER6SEC$400$02 Oct, 14:45
LOWER5MIN$390$02 Oct, 14:10
Total$9,422

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

ServiceCostSpikesPeakWhen
RAISEREG$9,8240$82 Oct, 08:35
LOWERREG$2,6790$52 Oct, 05:40
RAISE6SEC$1820$02 Oct, 05:40
LOWER60SEC$1790$02 Oct, 13:45
RAISE60SEC$1760$02 Oct, 05:30
LOWER6SEC$400$02 Oct, 14:45
RAISE5MIN$370$02 Oct, 18:25
LOWER5MIN$340$02 Oct, 14:10
Total$13,151

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

ServiceCostSpikesPeakWhen
RAISEREG$6,4160$82 Oct, 08:35
LOWERREG$1,6770$52 Oct, 05:40
RAISE60SEC$1860$02 Oct, 05:30
RAISE6SEC$1600$02 Oct, 05:40
LOWER60SEC$1450$02 Oct, 13:45
RAISE5MIN$830$02 Oct, 18:25
LOWER6SEC$450$02 Oct, 14:45
LOWER5MIN$270$02 Oct, 14:10
Total$8,738

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

ServiceCostSpikesPeakWhen
LOWERREG$4,2900$52 Oct, 05:40
RAISEREG$1,7940$82 Oct, 08:35
RAISE6SEC$1720$02 Oct, 05:40
RAISE60SEC$1700$02 Oct, 05:30
LOWER60SEC$1650$02 Oct, 13:45
LOWER6SEC$610$02 Oct, 14:45
LOWER5MIN$490$02 Oct, 14:10
RAISE5MIN$460$02 Oct, 18:25
Total$6,748

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

ServiceCostSpikesPeakWhen
RAISEREG$9,1740$52 Oct, 07:40
LOWERREG$5,7980$443 Oct, 01:05
RAISE6SEC$4,0970$412 Oct, 19:25
RAISE60SEC$9470$12 Oct, 05:35
LOWER6SEC$5540$32 Oct, 08:35
LOWER60SEC$2720$22 Oct, 23:40
RAISE5MIN$310$02 Oct, 05:35
LOWER5MIN$100$12 Oct, 23:40
Total$20,883

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

Battery dispatch

Peak moment

Fleet discharged 964 MW at 19:00 as NSW spot hit $109/MWh.

Peak moment

Fleet discharged 1,440 MW at 18:30 as QLD spot hit $100/MWh.

Peak moment

Fleet discharged 870 MW at 18:30 as VIC spot hit $93/MWh.

Peak moment

Fleet discharged 427 MW at 19:00 as SA spot hit $103/MWh.

Peak moment

Fleet discharged 3,637 MW at 19:00 as TAS spot hit $105/MWh.

Discharged
4,831MWh
peak 964 MW · 19:00
Charged
5,040MWh
peak 1,282 MW
Net
-209MWh
discharge − charge
Round-trip
96%
discharge / charge ratio
Discharged
5,369MWh
peak 1,440 MW · 18:30
Charged
6,156MWh
peak 1,201 MW
Net
-788MWh
discharge − charge
Round-trip
87%
discharge / charge ratio
Discharged
2,749MWh
peak 870 MW · 18:30
Charged
3,470MWh
peak 1,113 MW
Net
-721MWh
discharge − charge
Round-trip
79%
discharge / charge ratio
Discharged
1,604MWh
peak 427 MW · 19:00
Charged
1,712MWh
peak 341 MW
Net
-108MWh
discharge − charge
Round-trip
94%
discharge / charge ratio
NEM-wide
Discharged
14,552MWh
peak 3,637 MW · 19:00
Charged
16,379MWh
peak 2,712 MW
Net
-1,826MWh
discharge − charge
Round-trip
89%
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$15023:3006:3713:4520:5204:00

Regional dispatch ranking

RegionDischargedNet
#1QLD
5,369MWh
-788
#2NSW
4,831MWh
-209
#3VIC
2,749MWh
-721
#4SA
1,604MWh
-108

Generation Mix

TOP FUEL 54.4%
  • Coal54.4% · 102.1 GWh
  • Gas1.0% · 1.9 GWh
  • Hydro5.2% · 9.7 GWh
  • Wind12.2% · 23.0 GWh
  • Solar (utility)9.2% · 17.3 GWh
  • Solar (rooftop)15.0% · 28.1 GWh
  • Battery2.6% · 4.8 GWh
  • Other0.4% · 0.8 GWh
TOP FUEL 53.1%
  • Coal53.1% · 109.2 GWh
  • Gas1.4% · 2.9 GWh
  • Hydro3.2% · 6.5 GWh
  • Wind7.7% · 15.8 GWh
  • Solar (utility)11.9% · 24.6 GWh
  • Solar (rooftop)19.8% · 40.7 GWh
  • Battery2.6% · 5.4 GWh
  • Other0.3% · 0.6 GWh
TOP FUEL 50.3%
  • Coal50.3% · 83.6 GWh
  • Gas0.7% · 1.2 GWh
  • Hydro1.6% · 2.6 GWh
  • Wind38.9% · 64.7 GWh
  • Solar (utility)2.5% · 4.2 GWh
  • Solar (rooftop)4.3% · 7.1 GWh
  • Battery1.7% · 2.7 GWh
TOP FUEL 56.1%
  • Gas14.1% · 5.9 GWh
  • Wind56.1% · 23.2 GWh
  • Solar (utility)5.2% · 2.1 GWh
  • Solar (rooftop)20.8% · 8.6 GWh
  • Battery3.9% · 1.6 GWh
TOP FUEL 76.4%
  • Gas1.4% · 0.4 GWh
  • Hydro76.4% · 19.3 GWh
  • Wind14.8% · 3.7 GWh
  • Solar (rooftop)7.4% · 1.9 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:009.7 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
23:3005:3711:4517:5200:0010.0 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:008.5 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
23:3005:3711:4517:5200:002.7 GW 0
gashydrowindsolar rooftop
23:3005:3711:4517:5200:001.4 GW 0

Renewables

NSW · Daily renewable share
38.5%
VIC · Daily renewable share
52.0%
QLD · Daily renewable share
51.6%
SA · Daily renewable share
93.5%
TAS · Daily renewable share
88.3%
Peak instantaneous
73.2%
at 11:50
Daily NEM-wide share
48.8%
By region (daily share)
  • NSW
    38.5%
  • VIC
    52.0%
  • QLD
    51.6%
  • SA
    93.5%
  • TAS
    88.3%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +39.8 GWh 0 —
NSW1-QLD1 −58.8 GWh 0 —
VIC1-NSW1 +29.1 GWh 14 —
V-SA +7.1 GWh 6 —
T-V-MNSP1 −11.3 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
290.1k tCO₂
▼ 5.5% vs same day last week
Intensity by region
NSW 89.8k tCO₂ 0.474 tCO₂/MWh
QLD 97.5k tCO₂ 0.469 tCO₂/MWh
SA 2.9k tCO₂ 0.069 tCO₂/MWh
VIC 99.7k tCO₂ 0.600 tCO₂/MWh
TAS 221 tCO₂ 0.009 tCO₂/MWh