NEM
NEM Daily analysis

Wednesday 11 November 2026

Trading day 2026-11-11

Market Snapshot

Tasmania reached 23200/MWh and the NEM average price hit 93.7/MWh

Tasmania averaged $148.6/MWh with 0.2 cap hours and reached $23,200/MWh at 13:35. AEMO's notice at 13:30 stated prices for interval 13:35 are subject to review. New South Wales averaged $102.2/MWh with zero negative hours, and South Australia averaged $57.4/MWh with 19.5 negative hours.

Demand peaked at 8636 MW in New South Wales at 17:45 and 8445 MW in Queensland at 17:05. South Australia recorded a morning peak of 1457 MW at 06:55.

Coal accounted for 46.1 per cent of generation, rooftop solar 17.7 per cent, and wind 15.1 per cent. The renewable share averaged 49.5 per cent across the day, while batteries discharged 14,462 MWh.

Tasmania recorded FCAS price spikes of $23,200/MW for the lower regulation and raise regulation services. The raise 60 second service cost $631,972 across two spike intervals.

AEMO issued 13 additional notices between 13:35 and 16:35 stating prices were subject to review. Emissions totalled 285,918 tonnes, which was 4.7 per cent above the same weekday last week.

Today · Pre-dispatch forecasts show South Australia reaching $9953.86/MWh at 21:30, while Victoria is forecast to reach $378.86/MWh at 23:00.

In context · The NEM average price of $93.7/MWh was the highest of the last seven days and above the 7-day average of $60.5/MWh. Tasmania's average of $148.6/MWh ranked first for the week, sitting above its 7-day average of $75.6/MWh.

NSW $102VIC $64QLD $88SA $57TAS $149
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 $43 $85 $128 $170 -$10 $28 $65 $103 $140 -$10 $35 $80 $125 $170 -$120 -$52 $15 $83 $150 -$10 $983 $2.0k $3.0k $4.0k 05:00 11:00 17:00 23:00 05:00
Region Avg VWAP Min Max Neg Cap
NSW $102 $105 $34 $174 0 0
QLD $88 $93 -$5 $180 32 0
SA $57 $72 -$169 $221 234 0
VIC $64 $70 -$44 $139 24 0
TAS $149 $137 -$6 $23200 24 2

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

Demand

NSW
Peak
8,636MW
18:45
Trough
5,108MW
13:15
Energy
332.3GWh
QLD
Peak
8,445MW
18:05
Trough
5,206MW
11:40
Energy
317.8GWh
SA
Peak
1,457MW
07:55
Trough
119MW
15:40
Energy
54.5GWh
VIC
Peak
5,694MW
20:55
Trough
3,183MW
14:20
Energy
215.1GWh
TAS
Peak
1,114MW
07:25
Trough
609MW
15:05
Energy
44.1GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$6,4980$2011 Nov, 16:35
LOWERREG$1,6670$1111 Nov, 23:40
RAISE60SEC$1590$011 Nov, 06:10
RAISE6SEC$1580$011 Nov, 06:10
LOWER60SEC$1500$011 Nov, 16:30
RAISE5MIN$690$011 Nov, 06:10
LOWER6SEC$490$011 Nov, 15:05
LOWER5MIN$380$011 Nov, 14:50
Total$8,788

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

ServiceCostSpikesPeakWhen
RAISEREG$10,1760$2011 Nov, 16:35
LOWERREG$7,0360$1111 Nov, 23:40
LOWER60SEC$1800$011 Nov, 16:30
RAISE6SEC$1420$011 Nov, 06:10
RAISE60SEC$1250$011 Nov, 06:10
LOWER5MIN$470$011 Nov, 14:50
LOWER6SEC$400$011 Nov, 15:05
RAISE5MIN$380$011 Nov, 06:10
Total$17,784

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

ServiceCostSpikesPeakWhen
RAISEREG$9,2780$2011 Nov, 16:35
LOWERREG$2,2340$1111 Nov, 23:40
LOWER60SEC$1610$011 Nov, 16:30
RAISE60SEC$1570$011 Nov, 06:10
RAISE6SEC$1370$011 Nov, 06:10
RAISE5MIN$850$011 Nov, 06:10
LOWER6SEC$410$011 Nov, 15:05
LOWER5MIN$300$011 Nov, 14:50
Total$12,124

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

ServiceCostSpikesPeakWhen
RAISEREG$4,7320$2011 Nov, 16:35
LOWERREG$3,6730$1111 Nov, 23:40
LOWER60SEC$2520$011 Nov, 16:30
RAISE6SEC$1890$011 Nov, 06:10
RAISE60SEC$1810$011 Nov, 06:10
LOWER6SEC$1000$011 Nov, 15:05
LOWER5MIN$770$011 Nov, 14:50
RAISE5MIN$680$011 Nov, 06:10
Total$9,271

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

ServiceCostSpikesPeakWhen
RAISE60SEC$631,3512$23,19011 Nov, 14:35
RAISE6SEC$554,2632$23,19011 Nov, 14:35
RAISE5MIN$423,8382$23,19011 Nov, 14:35
LOWERREG$336,1674$23,20011 Nov, 08:05
RAISEREG$300,1166$23,20011 Nov, 08:05
LOWER60SEC$3500$311 Nov, 14:40
LOWER6SEC$3440$311 Nov, 14:40
LOWER5MIN$40$011 Nov, 05:35
Total$2.25M

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

Battery dispatch

Peak moment

Fleet discharged 1,464 MW at 20:00 as NSW spot hit $138/MWh.

Peak moment

Fleet discharged 1,303 MW at 20:00 as QLD spot hit $141/MWh.

Peak moment

Fleet discharged 495 MW at 20:00 as VIC spot hit $120/MWh.

Peak moment

Fleet discharged 167 MW at 22:30 as SA spot hit $133/MWh.

Peak moment

Fleet discharged 3,422 MW at 20:00 as TAS spot hit $119/MWh.

Discharged
5,691MWh
peak 1,464 MW · 20:00
Charged
7,525MWh
peak 1,698 MW
Net
-1,833MWh
discharge − charge
Round-trip
76%
discharge / charge ratio
Discharged
4,941MWh
peak 1,303 MW · 20:00
Charged
5,781MWh
peak 1,390 MW
Net
-841MWh
discharge − charge
Round-trip
85%
discharge / charge ratio
Discharged
2,435MWh
peak 495 MW · 20:00
Charged
4,979MWh
peak 1,108 MW
Net
-2,544MWh
discharge − charge
Round-trip
49%
discharge / charge ratio
Discharged
1,395MWh
peak 167 MW · 22:30
Charged
2,245MWh
peak 524 MW
Net
-851MWh
discharge − charge
Round-trip
62%
discharge / charge ratio
NEM-wide
Discharged
14,462MWh
peak 3,422 MW · 20:00
Charged
20,530MWh
peak 3,019 MW
Net
-6,068MWh
discharge − charge
Round-trip
70%
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-$2k$0$2k$4k00:3007:3714:4521:5205:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
5,691MWh
-1,833
#2QLD
4,941MWh
-841
#3VIC
2,435MWh
-2,544
#4SA
1,395MWh
-851

Generation Mix

TOP FUEL 47.8%
  • Coal47.8% · 94.9 GWh
  • Gas0.6% · 1.1 GWh
  • Hydro3.4% · 6.7 GWh
  • Wind9.3% · 18.5 GWh
  • Solar (utility)17.3% · 34.3 GWh
  • Solar (rooftop)18.9% · 37.5 GWh
  • Battery2.9% · 5.7 GWh
TOP FUEL 57.3%
  • Coal57.3% · 126.1 GWh
  • Gas0.4% · 0.9 GWh
  • Hydro3.0% · 6.6 GWh
  • Wind7.3% · 16.1 GWh
  • Solar (utility)13.6% · 29.9 GWh
  • Solar (rooftop)16.1% · 35.4 GWh
  • Battery2.2% · 4.9 GWh
TOP FUEL 44.5%
  • Coal44.5% · 76.5 GWh
  • Gas0.7% · 1.2 GWh
  • Hydro2.9% · 5.0 GWh
  • Wind26.0% · 44.7 GWh
  • Solar (utility)8.0% · 13.8 GWh
  • Solar (rooftop)16.5% · 28.4 GWh
  • Battery1.4% · 2.4 GWh
TOP FUEL 46.1%
  • Gas17.0% · 5.6 GWh
  • Wind46.1% · 15.3 GWh
  • Solar (utility)2.0% · 0.7 GWh
  • Solar (rooftop)30.8% · 10.2 GWh
  • Battery4.2% · 1.4 GWh
TOP FUEL 75.6%
  • Hydro75.6% · 15.9 GWh
  • Wind12.8% · 2.7 GWh
  • Solar (rooftop)11.7% · 2.5 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0010.3 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0012.3 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:008.5 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:002.1 GW 0
hydrowindsolar rooftop
00:3006:3712:4518:5201:001.0 GW 0

Renewables

NSW · Daily renewable share
46.6%
VIC · Daily renewable share
63.6%
QLD · Daily renewable share
45.5%
SA · Daily renewable share
67.5%
TAS · Daily renewable share
77.1%
Peak instantaneous
76.7%
at 12:00
Daily NEM-wide share
49.5%
By region (daily share)
  • NSW
    46.6%
  • VIC
    63.6%
  • QLD
    45.5%
  • SA
    67.5%
  • TAS
    77.1%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +21.7 GWh 28 —
NSW1-QLD1 −35.0 GWh 2 —
VIC1-NSW1 +46.5 GWh 0 —
V-SA −16.4 GWh 10 —
T-V-MNSP1 −12.9 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
285.9k tCO₂
▲ 4.7% vs same day last week
Intensity by region
NSW 83.5k tCO₂ 0.413 tCO₂/MWh
QLD 109.5k tCO₂ 0.493 tCO₂/MWh
SA 2.7k tCO₂ 0.081 tCO₂/MWh
VIC 90.2k tCO₂ 0.525 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh