NEM
NEM Daily analysis

Thursday 12 November 2026

Trading day 2026-11-12

Market Snapshot

SA reaches $3,119.9/MWh as NEM average price hits $111.2/MWh

Regional average prices ranged from $92.7/MWh in TAS to $148.0/MWh in SA, with SA recording 8.7 hours of negative prices. NSW and QLD recorded zero negative price intervals across the trading day.

NSW recorded the highest peak demand of 8,685 MW at 18:15, while QLD reached 8,676 MW at 18:55. Coal provided 43.3 per cent of generation, rooftop solar contributed 20.0 per cent, and the instantaneous renewable share peaked at 77.9 per cent at 11:50. Batteries discharged 14,577 MWh with a net of -7,124 MWh.

The RAISE6SEC service cost $1,105,902 across four spike intervals, reaching a peak price of $23,190/MW in TAS. AEMO issued a non-credible contingency event notice for the SA region at 15:48, and an update notice followed at 16:46.

Total emissions were 280,826 tonnes of carbon dioxide, which was 2.8 per cent above the same weekday last week.

Today · Pre-dispatch forecasts show SA reaching $1,676.76/MWh at 19:30, while VIC is forecast to reach $888.18/MWh at the same time.

In context · The NEM average price of $111.2/MWh was above the seven-day average of $66.7/MWh, ranking first for the week. The SA average of $148.0/MWh was above its seven-day average of $60.4/MWh and also ranked first within the seven-day period.

NSW $110VIC $97QLD $108SA $148TAS $93
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 $45 $90 $135 $180 -$10 $53 $115 $178 $240 $0 $48 $95 $143 $190 -$20 $153 $325 $498 $670 -$10 $48 $105 $163 $220 05:00 11:00 17:00 23:00 05:00
Region Avg VWAP Min Max Neg Cap
NSW $110 $114 $42 $208 0 0
QLD $108 $114 $39 $218 0 0
SA $148 $178 -$29 $3120 104 0
VIC $97 $109 -$10 $303 60 0
TAS $93 $98 -$8 $277 54 0

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

Demand

NSW
Peak
8,685MW
19:15
Trough
5,152MW
12:35
Energy
331.9GWh
QLD
Peak
8,676MW
19:55
Trough
4,868MW
11:30
Energy
317.7GWh
SA
Peak
1,554MW
20:40
Trough
66MW
13:15
Energy
49.8GWh
VIC
Peak
5,900MW
20:20
Trough
2,548MW
14:35
Energy
214.1GWh
TAS
Peak
1,106MW
20:50
Trough
715MW
12:55
Energy
44.4GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$7,4960$2612 Nov, 16:20
LOWERREG$1,7490$712 Nov, 06:05
RAISE60SEC$1510$012 Nov, 05:45
RAISE6SEC$1400$012 Nov, 06:05
LOWER60SEC$1180$012 Nov, 23:45
RAISE5MIN$750$012 Nov, 05:45
LOWER6SEC$610$012 Nov, 14:45
LOWER5MIN$420$012 Nov, 15:10
Total$9,835

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

ServiceCostSpikesPeakWhen
RAISEREG$17,9840$2612 Nov, 16:20
LOWERREG$5,0730$712 Nov, 06:05
LOWER60SEC$1880$012 Nov, 23:45
RAISE6SEC$1420$012 Nov, 06:05
RAISE60SEC$1340$012 Nov, 05:45
LOWER6SEC$580$012 Nov, 14:45
RAISE5MIN$430$012 Nov, 05:45
LOWER5MIN$380$012 Nov, 15:10
Total$23,659

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

ServiceCostSpikesPeakWhen
RAISEREG$8,7100$2612 Nov, 16:20
LOWERREG$2,2730$712 Nov, 06:05
LOWER60SEC$1120$012 Nov, 23:45
RAISE60SEC$1040$012 Nov, 05:45
RAISE6SEC$1030$012 Nov, 06:05
RAISE5MIN$650$012 Nov, 05:45
LOWER6SEC$380$012 Nov, 14:45
LOWER5MIN$250$012 Nov, 15:10
Total$11,430

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

ServiceCostSpikesPeakWhen
RAISEREG$7,0260$2612 Nov, 16:20
LOWERREG$4,2050$712 Nov, 06:05
LOWER60SEC$1820$012 Nov, 23:45
RAISE60SEC$1340$012 Nov, 05:45
RAISE6SEC$1270$012 Nov, 06:05
LOWER6SEC$850$012 Nov, 14:45
RAISE5MIN$590$012 Nov, 05:45
LOWER5MIN$460$012 Nov, 15:10
Total$11,864

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

ServiceCostSpikesPeakWhen
RAISE6SEC$1.11M4$23,19012 Nov, 18:20
RAISEREG$10,6590$14412 Nov, 18:30
LOWERREG$6,0690$2212 Nov, 05:15
RAISE60SEC$5140$312 Nov, 18:30
LOWER6SEC$4250$312 Nov, 18:15
LOWER60SEC$2910$312 Nov, 18:20
LOWER5MIN$190$112 Nov, 18:35
RAISE5MIN$80$012 Nov, 18:20
Total$1.12M

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

Battery dispatch

Peak moment

Fleet discharged 1,154 MW at 20:00 as NSW spot hit $154/MWh.

Peak moment

Fleet discharged 1,177 MW at 19:30 as QLD spot hit $171/MWh.

Peak moment

Fleet discharged 734 MW at 07:00 as VIC spot hit $25/MWh.

Peak moment

Fleet discharged 248 MW at 06:30 as SA spot hit $86/MWh.

Peak moment

Fleet discharged 2,711 MW at 20:00 as TAS spot hit $160/MWh.

Discharged
4,935MWh
peak 1,154 MW · 20:00
Charged
8,270MWh
peak 1,464 MW
Net
-3,335MWh
discharge − charge
Round-trip
60%
discharge / charge ratio
Discharged
4,696MWh
peak 1,177 MW · 19:30
Charged
6,299MWh
peak 1,155 MW
Net
-1,603MWh
discharge − charge
Round-trip
75%
discharge / charge ratio
Discharged
3,587MWh
peak 734 MW · 07:00
Charged
5,189MWh
peak 919 MW
Net
-1,602MWh
discharge − charge
Round-trip
69%
discharge / charge ratio
Discharged
1,359MWh
peak 248 MW · 06:30
Charged
1,943MWh
peak 345 MW
Net
-584MWh
discharge − charge
Round-trip
70%
discharge / charge ratio
NEM-wide
Discharged
14,577MWh
peak 2,711 MW · 20:00
Charged
21,701MWh
peak 3,453 MW
Net
-7,124MWh
discharge − charge
Round-trip
67%
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-$200$0$200$400$600$80000:3007:3714:4521:5205:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
4,935MWh
-3,335
#2QLD
4,696MWh
-1,603
#3VIC
3,587MWh
-1,602
#4SA
1,359MWh
-584

Generation Mix

TOP FUEL 41.1%
  • Coal41.1% · 85.5 GWh
  • Gas0.8% · 1.6 GWh
  • Hydro3.2% · 6.7 GWh
  • Wind13.0% · 27.1 GWh
  • Solar (utility)19.3% · 40.2 GWh
  • Solar (rooftop)20.2% · 42.1 GWh
  • Battery2.4% · 4.9 GWh
TOP FUEL 54.9%
  • Coal54.9% · 120.9 GWh
  • Gas1.3% · 2.9 GWh
  • Hydro3.1% · 6.8 GWh
  • Wind8.0% · 17.5 GWh
  • Solar (utility)13.0% · 28.6 GWh
  • Solar (rooftop)17.7% · 38.9 GWh
  • Battery2.1% · 4.7 GWh
TOP FUEL 47.0%
  • Coal47.0% · 77.2 GWh
  • Gas2.5% · 4.1 GWh
  • Hydro4.0% · 6.6 GWh
  • Wind16.2% · 26.6 GWh
  • Solar (utility)7.7% · 12.7 GWh
  • Solar (rooftop)20.3% · 33.4 GWh
  • Battery2.2% · 3.6 GWh
TOP FUEL 35.4%
  • Gas27.4% · 10.9 GWh
  • Wind27.6% · 10.9 GWh
  • Solar (utility)6.2% · 2.5 GWh
  • Solar (rooftop)35.4% · 14.0 GWh
  • Battery3.4% · 1.4 GWh
TOP FUEL 84.0%
  • Hydro84.0% · 18.6 GWh
  • Wind4.6% · 1.0 GWh
  • Solar (rooftop)11.4% · 2.5 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0011.2 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0012.0 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:008.1 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:002.4 GW 0
hydrowindsolar rooftop
00:3006:3712:4518:5201:001.4 GW 0

Renewables

NSW · Daily renewable share
54.6%
VIC · Daily renewable share
55.0%
QLD · Daily renewable share
46.5%
SA · Daily renewable share
69.8%
TAS · Daily renewable share
84.2%
Peak instantaneous
77.9%
at 12:50
Daily NEM-wide share
50.9%
By region (daily share)
  • NSW
    54.6%
  • VIC
    55.0%
  • QLD
    46.5%
  • SA
    69.8%
  • TAS
    84.2%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +12.4 GWh 18 —
NSW1-QLD1 −25.9 GWh 12 —
VIC1-NSW1 +23.5 GWh 12 —
V-SA −3.6 GWh 34 —
T-V-MNSP1 −2.9 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
280.8k tCO₂
▲ 2.8% vs same day last week
Intensity by region
NSW 75.7k tCO₂ 0.359 tCO₂/MWh
QLD 106.7k tCO₂ 0.480 tCO₂/MWh
SA 5.4k tCO₂ 0.134 tCO₂/MWh
VIC 93.1k tCO₂ 0.565 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh