NEM
NEM Daily analysis

Monday 12 October 2026

Trading day 2026-10-12

Market Snapshot

New South Wales recorded a maximum price of $23,107/MWh

New South Wales averaged $655.7/MWh and recorded 0.3 hours at the price cap, while Victoria averaged $6.7/MWh with 15.8 hours of negative prices. Queensland averaged $113.7/MWh and experienced four hours of negative prices, with South Australia recording 14.3 hours of negative prices.

New South Wales recorded a peak demand of 9921 MW at 17:05, and Queensland reached a peak of 8446 MW at 17:40. The NEM renewable share was 46.7 per cent, reaching an instantaneous peak of 76.4 per cent at 10:55. Coal provided 46.0 per cent of total generation, wind supplied 18.5 per cent, and batteries discharged 15,869 MWh.

The LOWER6SEC service cost $204,786 with a peak price of $645/MW in Queensland, while the LOWER60SEC service cost $106,062. Total emissions were 300,811 tonnes of carbon dioxide, representing a 6.4 per cent decrease from the same weekday last week.

AEMO issued a forecast LOR1 for New South Wales at 09:42 and updated this forecast at 10:47. AEMO cancelled the forecast LOR1 for New South Wales at 11:29.

Today · Predispatch forecasts show Queensland reaching a peak price of $319.04/MWh at 19:30, while South Australia is forecast to reach $145.0/MWh at 18:30.

In context · The NEM average price of $162.2/MWh was the highest of the last seven days and above the seven day average of $74.2/MWh. The New South Wales average of $655.7/MWh ranked first for the week against a seven day average of $211.2/MWh.

NSW $656VIC $7QLD $114SA $16TAS $17
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 $903 $1.8k $2.7k $3.6k -$40 -$5 $30 $65 $100 -$10 $55 $120 $185 $250 -$20 $10 $40 $70 $100 -$20 $10 $40 $70 $100 05:00 11:00 17:00 23:00 05:00
Region Avg VWAP Min Max Neg Cap
NSW $656 $728 -$7 $23107 2 4
QLD $114 $123 -$8 $270 48 0
SA $16 $21 -$14 $96 172 0
VIC $7 $8 -$54 $84 190 0
TAS $17 $19 -$36 $96 146 0

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

Demand

NSW
Peak
9,921MW
18:05
Trough
5,398MW
11:45
Energy
354.6GWh
QLD
Peak
8,446MW
18:40
Trough
4,530MW
11:50
Energy
301.2GWh
SA
Peak
1,567MW
20:05
Trough
318MW
12:35
Energy
53.7GWh
VIC
Peak
5,824MW
20:10
Trough
3,358MW
14:50
Energy
233.3GWh
TAS
Peak
1,136MW
20:05
Trough
815MW
13:00
Energy
45.9GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$3,4210$1612 Oct, 23:45
LOWERREG$9050$512 Oct, 11:00
RAISE60SEC$4390$012 Oct, 08:15
RAISE6SEC$2690$012 Oct, 08:20
LOWER60SEC$700$012 Oct, 14:05
RAISE5MIN$540$012 Oct, 08:10
LOWER5MIN$280$012 Oct, 14:15
LOWER6SEC$200$012 Oct, 17:10
Total$5,206

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

ServiceCostSpikesPeakWhen
LOWER6SEC$204,6990$64512 Oct, 15:10
LOWER60SEC$105,7370$8612 Oct, 15:10
LOWER5MIN$28,5280$3012 Oct, 15:15
LOWERREG$9,4940$3012 Oct, 15:15
RAISEREG$3,9710$1612 Oct, 23:45
RAISE6SEC$3360$012 Oct, 06:45
RAISE60SEC$2290$012 Oct, 07:15
RAISE5MIN$470$012 Oct, 06:50
Total$353,041

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

ServiceCostSpikesPeakWhen
RAISEREG$11,8040$1612 Oct, 23:45
LOWERREG$3,4150$512 Oct, 11:00
RAISE60SEC$6960$012 Oct, 08:15
RAISE6SEC$5970$012 Oct, 08:20
LOWER60SEC$1670$012 Oct, 14:05
RAISE5MIN$1210$012 Oct, 08:10
LOWER5MIN$450$012 Oct, 14:15
LOWER6SEC$390$012 Oct, 17:10
Total$16,883

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

ServiceCostSpikesPeakWhen
RAISEREG$2,2800$1612 Oct, 23:45
LOWERREG$1,6080$512 Oct, 11:00
RAISE60SEC$3390$012 Oct, 08:15
RAISE6SEC$3160$012 Oct, 08:20
LOWER60SEC$870$012 Oct, 14:05
RAISE5MIN$390$012 Oct, 08:10
LOWER6SEC$280$012 Oct, 17:10
LOWER5MIN$220$012 Oct, 14:15
Total$4,719

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

ServiceCostSpikesPeakWhen
LOWERREG$65,7070$9013 Oct, 03:35
RAISEREG$9,6820$612 Oct, 09:20
RAISE6SEC$7130$012 Oct, 05:05
RAISE60SEC$7130$012 Oct, 05:05
RAISE5MIN$20$012 Oct, 14:55
LOWER60SEC$10$012 Oct, 14:05
LOWER6SEC$00$012 Oct, 17:10
LOWER5MIN$00$012 Oct, 14:15
Total$76,817

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

Battery dispatch

Peak moment

Fleet discharged 689 MW at 19:30 as NSW spot hit $205/MWh.

Peak moment

Fleet discharged 1,183 MW at 19:30 as QLD spot hit $187/MWh.

Peak moment

Fleet discharged 1,058 MW at 08:00 as VIC spot hit -$3/MWh.

Peak moment

Fleet discharged 549 MW at 08:00 as SA spot hit $32/MWh.

Peak moment

Fleet discharged 2,493 MW at 20:00 as TAS spot hit $81/MWh.

Discharged
3,188MWh
peak 689 MW · 19:30
Charged
4,457MWh
peak 730 MW
Net
-1,269MWh
discharge − charge
Round-trip
72%
discharge / charge ratio
Discharged
4,977MWh
peak 1,183 MW · 19:30
Charged
7,279MWh
peak 1,516 MW
Net
-2,302MWh
discharge − charge
Round-trip
68%
discharge / charge ratio
Discharged
5,865MWh
peak 1,058 MW · 08:00
Charged
4,460MWh
peak 850 MW
Net
+1,405MWh
discharge − charge
Round-trip
132%
discharge / charge ratio
Discharged
1,839MWh
peak 549 MW · 08:00
Charged
2,187MWh
peak 380 MW
Net
-348MWh
discharge − charge
Round-trip
84%
discharge / charge ratio
NEM-wide
Discharged
15,869MWh
peak 2,493 MW · 20:00
Charged
18,382MWh
peak 2,840 MW
Net
-2,513MWh
discharge − charge
Round-trip
86%
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-$5k$0$5k$10k$15k00:3007:3714:4521:5205:00

Regional dispatch ranking

RegionDischargedNet
#1VIC
5,865MWh
+1,405
#2QLD
4,977MWh
-2,302
#3NSW
3,188MWh
-1,269
#4SA
1,839MWh
-348

Generation Mix

TOP FUEL 49.0%
  • Coal49.0% · 97.1 GWh
  • Gas6.4% · 12.7 GWh
  • Hydro6.8% · 13.6 GWh
  • Wind9.6% · 19.0 GWh
  • Solar (utility)6.8% · 13.4 GWh
  • Solar (rooftop)19.9% · 39.4 GWh
  • Battery1.6% · 3.2 GWh
TOP FUEL 51.9%
  • Coal51.9% · 117.8 GWh
  • Gas4.2% · 9.5 GWh
  • Hydro3.3% · 7.5 GWh
  • Wind7.8% · 17.8 GWh
  • Solar (utility)13.4% · 30.5 GWh
  • Solar (rooftop)17.2% · 39.2 GWh
  • Battery2.2% · 5.0 GWh
TOP FUEL 50.0%
  • Coal50.0% · 83.7 GWh
  • Hydro0.7% · 1.1 GWh
  • Wind30.9% · 51.8 GWh
  • Solar (utility)4.4% · 7.5 GWh
  • Solar (rooftop)9.7% · 16.2 GWh
  • Battery3.5% · 5.9 GWh
  • Other0.8% · 1.4 GWh
TOP FUEL 58.1%
  • Gas5.6% · 2.1 GWh
  • Wind58.1% · 22.1 GWh
  • Solar (utility)4.2% · 1.6 GWh
  • Solar (rooftop)27.2% · 10.3 GWh
  • Battery4.8% · 1.8 GWh
TOP FUEL 48.8%
  • Hydro42.3% · 8.2 GWh
  • Wind48.8% · 9.4 GWh
  • Solar (rooftop)9.0% · 1.7 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0012.5 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0012.1 GW 0
coalhydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:007.7 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:002.5 GW 0
hydrowindsolar rooftop
00:3006:3712:4518:5201:001.0 GW 0

Renewables

NSW · Daily renewable share
36.3%
VIC · Daily renewable share
56.5%
QLD · Daily renewable share
49.4%
SA · Daily renewable share
89.9%
TAS · Daily renewable share
69.0%
Peak instantaneous
76.4%
at 11:55
Daily NEM-wide share
46.7%
By region (daily share)
  • NSW
    36.3%
  • VIC
    56.5%
  • QLD
    49.4%
  • SA
    89.9%
  • TAS
    69.0%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +34.8 GWh 0 —
NSW1-QLD1 −49.6 GWh 6 —
VIC1-NSW1 +39.1 GWh 14 —
V-SA −4.0 GWh 4 —
T-V-MNSP1 −16.1 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
300.8k tCO₂
▼ 6.4% vs same day last week
Intensity by region
NSW 92.1k tCO₂ 0.461 tCO₂/MWh
QLD 108.3k tCO₂ 0.472 tCO₂/MWh
SA 1.0k tCO₂ 0.026 tCO₂/MWh
VIC 99.4k tCO₂ 0.588 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh