NEM
NEM Daily analysis

Saturday 24 October 2026

Trading day 2026-10-24

Market Snapshot

NEM average price reaches $96.9/MWh with SA recording 10.8 negative hours

Regional prices ranged from $82.7/MWh in SA to $106.2/MWh in VIC, with SA reaching a maximum of $250.0/MWh at 11:35. SA recorded 10.8 negative hours, representing 45.1 per cent of its trading intervals, while no other regions recorded negative hours.

NSW recorded the highest demand peak of 8382 MW at 18:45, followed by QLD at 7233 MW at 18:30 and VIC at 5614 MW at 17:50.

Coal accounted for 55.0 per cent of the generation mix, while rooftop solar contributed 14.3 per cent and utility solar provided 9.5 per cent. The NEM renewable share averaged 41.3 per cent, and batteries discharged 17,678 MWh with a net output of 1618 MWh.

The RAISE6SEC service cost $54,504, featuring two spike intervals and a peak price of $8432/MW in TAS, while the RAISEREG service cost $41,781.

Total emissions were 316,240 tCO2, which was 24.0 per cent higher than the same weekday last week.

Today · Pre-dispatch forecasts show SA reaching $102.56/MWh at 22:00, and NSW is forecast to peak at $101.99/MWh at 03:00.

In context · The NEM average price of $96.9/MWh ranked third highest over the last seven days, above the seven-day average of $81.2/MWh. This compares to a NEM average of $22.7/MWh on the same weekday last week.

NSW $100VIC $106QLD $91SA $83TAS $105
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 $35 $70 $105 $140 $0 $40 $80 $120 $160 $0 $33 $65 $98 $130 -$30 $33 $95 $158 $220 $0 $38 $75 $113 $150 05:00 11:00 17:00 23:00 05:00
Region Avg VWAP Min Max Neg Cap
NSW $100 $102 $64 $139 0 0
QLD $91 $92 $61 $128 0 0
SA $83 $91 -$30 $250 130 0
VIC $106 $106 $75 $164 0 0
TAS $105 $105 $80 $170 0 0

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

Demand

NSW
Peak
8,382MW
19:45
Trough
3,957MW
13:00
Energy
305.5GWh
QLD
Peak
7,233MW
19:30
Trough
5,169MW
09:25
Energy
291.2GWh
SA
Peak
1,419MW
20:45
Trough
440MW
11:35
Energy
54.7GWh
VIC
Peak
5,614MW
18:50
Trough
4,131MW
04:40
Energy
236.0GWh
TAS
Peak
1,150MW
18:55
Trough
843MW
12:35
Energy
47.9GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$7,0550$1624 Oct, 08:00
LOWERREG$7030$424 Oct, 23:00
RAISE6SEC$990$024 Oct, 06:55
LOWER60SEC$900$024 Oct, 11:50
RAISE60SEC$890$024 Oct, 05:20
LOWER6SEC$390$024 Oct, 16:45
LOWER5MIN$360$024 Oct, 11:50
RAISE5MIN$220$024 Oct, 05:05
Total$8,131

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

ServiceCostSpikesPeakWhen
RAISEREG$10,2010$1624 Oct, 08:00
LOWERREG$1,9330$424 Oct, 23:00
RAISE6SEC$2280$024 Oct, 06:55
LOWER60SEC$2010$024 Oct, 11:50
RAISE60SEC$1980$024 Oct, 05:20
LOWER6SEC$470$024 Oct, 16:45
LOWER5MIN$390$024 Oct, 11:50
RAISE5MIN$300$024 Oct, 05:05
Total$12,876

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

ServiceCostSpikesPeakWhen
RAISEREG$7,1880$1624 Oct, 08:00
LOWERREG$1,6570$424 Oct, 23:00
RAISE60SEC$2680$024 Oct, 05:20
RAISE6SEC$2550$024 Oct, 06:55
LOWER60SEC$1480$024 Oct, 11:50
RAISE5MIN$690$024 Oct, 05:05
LOWER6SEC$500$024 Oct, 16:45
LOWER5MIN$440$024 Oct, 11:50
Total$9,679

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

ServiceCostSpikesPeakWhen
RAISEREG$4,6260$1624 Oct, 08:00
LOWERREG$2,6700$424 Oct, 23:00
RAISE6SEC$2570$024 Oct, 06:55
RAISE60SEC$2410$024 Oct, 05:20
LOWER60SEC$1540$024 Oct, 11:50
LOWER6SEC$640$024 Oct, 16:45
RAISE5MIN$420$024 Oct, 05:05
LOWER5MIN$400$024 Oct, 11:50
Total$8,094

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

ServiceCostSpikesPeakWhen
RAISE6SEC$53,6652$8,43224 Oct, 15:45
RAISEREG$12,7110$9924 Oct, 10:05
LOWERREG$3,9280$825 Oct, 03:45
LOWER6SEC$1,3870$324 Oct, 08:10
RAISE60SEC$1,1070$2424 Oct, 22:50
LOWER60SEC$4910$124 Oct, 08:10
LOWER5MIN$550$224 Oct, 16:55
RAISE5MIN$410$024 Oct, 07:40
Total$73,385

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

Battery dispatch

Peak moment

Fleet discharged 1,349 MW at 20:00 as NSW spot hit $109/MWh.

Peak moment

Fleet discharged 782 MW at 19:30 as QLD spot hit $100/MWh.

Peak moment

Fleet discharged 588 MW at 19:30 as VIC spot hit $106/MWh.

Peak moment

Fleet discharged 362 MW at 19:30 as SA spot hit $107/MWh.

Peak moment

Fleet discharged 3,026 MW at 19:30 as TAS spot hit $105/MWh.

Discharged
7,584MWh
peak 1,349 MW · 20:00
Charged
6,671MWh
peak 1,433 MW
Net
+912MWh
discharge − charge
Round-trip
114%
discharge / charge ratio
Discharged
3,992MWh
peak 782 MW · 19:30
Charged
4,060MWh
peak 799 MW
Net
-69MWh
discharge − charge
Round-trip
98%
discharge / charge ratio
Discharged
3,605MWh
peak 588 MW · 19:30
Charged
2,899MWh
peak 567 MW
Net
+707MWh
discharge − charge
Round-trip
124%
discharge / charge ratio
Discharged
2,498MWh
peak 362 MW · 19:30
Charged
2,430MWh
peak 689 MW
Net
+68MWh
discharge − charge
Round-trip
103%
discharge / charge ratio
NEM-wide
Discharged
17,678MWh
peak 3,026 MW · 19:30
Charged
16,060MWh
peak 2,771 MW
Net
+1,619MWh
discharge − charge
Round-trip
110%
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$30000:3007:3714:4521:5205:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
7,584MWh
+912
#2QLD
3,992MWh
-69
#3VIC
3,605MWh
+707
#4SA
2,498MWh
+68

Generation Mix

TOP FUEL 51.0%
  • Coal51.0% · 105.6 GWh
  • Gas0.8% · 1.6 GWh
  • Hydro2.8% · 5.8 GWh
  • Wind4.4% · 9.1 GWh
  • Solar (utility)15.6% · 32.4 GWh
  • Solar (rooftop)20.9% · 43.3 GWh
  • Battery3.7% · 7.6 GWh
  • Other0.8% · 1.6 GWh
TOP FUEL 68.5%
  • Coal68.5% · 128.8 GWh
  • Gas0.5% · 0.9 GWh
  • Hydro2.0% · 3.8 GWh
  • Wind10.3% · 19.3 GWh
  • Solar (utility)5.8% · 10.8 GWh
  • Solar (rooftop)10.5% · 19.8 GWh
  • Battery2.1% · 4.0 GWh
  • Other0.4% · 0.7 GWh
TOP FUEL 67.2%
  • Coal67.2% · 90.1 GWh
  • Gas0.1% · 0.2 GWh
  • Hydro6.9% · 9.3 GWh
  • Wind5.3% · 7.1 GWh
  • Solar (utility)8.2% · 11.0 GWh
  • Solar (rooftop)9.0% · 12.1 GWh
  • Battery2.7% · 3.6 GWh
  • Other0.5% · 0.7 GWh
TOP FUEL 48.2%
  • Gas18.2% · 6.4 GWh
  • Wind48.2% · 17.0 GWh
  • Solar (utility)4.8% · 1.7 GWh
  • Solar (rooftop)21.5% · 7.6 GWh
  • Battery7.1% · 2.5 GWh
  • Other0.2% · 0.1 GWh
TOP FUEL 90.4%
  • Hydro90.4% · 23.2 GWh
  • Wind3.1% · 0.8 GWh
  • Solar (rooftop)6.6% · 1.7 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:0010.8 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:009.5 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:006.7 GW 0
gasbattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:002.1 GW 0
hydrowindsolar rooftop
00:3006:3712:4518:5201:001.3 GW 0

Renewables

NSW · Daily renewable share
47.6%
VIC · Daily renewable share
31.3%
QLD · Daily renewable share
33.1%
SA · Daily renewable share
75.1%
TAS · Daily renewable share
95.9%
Peak instantaneous
63.7%
at 11:40
Daily NEM-wide share
41.3%
By region (daily share)
  • NSW
    47.6%
  • VIC
    31.3%
  • QLD
    33.1%
  • SA
    75.1%
  • TAS
    95.9%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +28.0 GWh 6 —
NSW1-QLD1 −5.6 GWh 8 —
VIC1-NSW1 −3.0 GWh 25 —
V-SA −12.3 GWh 16 —
T-V-MNSP1 −3.8 GWh 2 —

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
316.2k tCO₂
▲ 24.0% vs same day last week
Intensity by region
NSW 92.7k tCO₂ 0.441 tCO₂/MWh
QLD 113.4k tCO₂ 0.601 tCO₂/MWh
SA 3.0k tCO₂ 0.080 tCO₂/MWh
VIC 107.2k tCO₂ 0.797 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh