NEM
NEM Daily analysis

Saturday 14 November 2026

Trading day 2026-11-14

Market Snapshot

SA records 12.8 hours of negative prices as NEM average reaches $109.2/MWh

NSW recorded the highest regional average at $138.1/MWh, reaching a maximum of $230.6/MWh at 16:30. SA recorded the lowest average at $87.8/MWh, reaching a minimum of -$148.4/MWh at 12:25. AEMO issued a notice at 12:20 stating prices for the 12:25 interval were subject to review. SA experienced negative prices for 53.5 per cent of the day, while VIC and TAS both recorded 3.7 hours.

NSW recorded the highest demand peak of 9172 MW at 17:05, while QLD reached 7726 MW at 18:55. The NEM renewable share averaged 42.7 per cent, reaching an instantaneous peak of 64.8 per cent at 12:30. Coal contributed 49.9 per cent of the generation mix, followed by rooftop solar at 14.5 per cent and wind at 11.3 per cent. Batteries discharged 17,511 MWh with a net of -4224 MWh across the trading day.

FCAS costs were highest for the raise regulation service at $49,934, with no price spikes recorded. Total emissions were 310,059 tCO2, which was 22.4 per cent above the same weekday last week.

AEMO issued a notice at 05:50 cancelling a forecast LOR2 in TAS for 20 November, and updated a forecast LOR1 at 14:34. AEMO issued multiple notices between 12:00 and 13:55 stating prices were subject to review.

Today · Pre-dispatch forecasts show SA reaching $527.17/MWh at 19:00, with NSW and QLD exceeding $298/MWh at the same time. AEMO projects an LOR1 in TAS from 08:00 on 20 November.

In context · The NEM average of $109.2/MWh was above the 7-day average of $92.8/MWh, ranking third for the week. The NEM average was higher than the $50.0/MWh recorded on the same weekday last week.

NSW $138VIC $94QLD $130SA $88TAS $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 $50 $100 $150 $200 -$50 $10 $70 $130 $190 $0 $45 $90 $135 $180 -$120 -$42 $35 $113 $190 -$20 $28 $75 $123 $170 05:00 11:00 17:00 23:00 05:00
Region Avg VWAP Min Max Neg Cap
NSW $138 $140 $24 $231 0 0
QLD $130 $131 $41 $186 0 0
SA $88 $110 -$148 $262 154 0
VIC $94 $98 -$60 $217 44 0
TAS $93 $95 -$46 $199 44 0

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

Demand

NSW
Peak
9,172MW
18:05
Trough
5,808MW
13:05
Energy
345.5GWh
QLD
Peak
7,726MW
19:55
Trough
5,420MW
11:35
Energy
308.9GWh
SA
Peak
1,368MW
21:40
Trough
249MW
14:05
Energy
48.1GWh
VIC
Peak
5,490MW
20:45
Trough
3,542MW
15:30
Energy
222.2GWh
TAS
Peak
1,013MW
21:10
Trough
745MW
15:00
Energy
43.2GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$5,0190$2015 Nov, 01:45
LOWERREG$9090$514 Nov, 06:55
RAISE6SEC$3040$014 Nov, 07:10
RAISE60SEC$2440$014 Nov, 08:55
LOWER60SEC$930$014 Nov, 14:55
RAISE5MIN$910$014 Nov, 05:45
LOWER6SEC$400$014 Nov, 15:15
LOWER5MIN$270$014 Nov, 16:35
Total$6,727

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

ServiceCostSpikesPeakWhen
RAISEREG$5,7000$2015 Nov, 01:45
LOWERREG$4,3620$514 Nov, 06:55
LOWER6SEC$1,0180$514 Nov, 11:15
LOWER60SEC$1,0130$314 Nov, 11:00
RAISE6SEC$4300$014 Nov, 07:10
RAISE60SEC$3090$014 Nov, 12:40
RAISE5MIN$860$014 Nov, 12:40
LOWER5MIN$710$014 Nov, 16:35
Total$12,989

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

ServiceCostSpikesPeakWhen
RAISEREG$6,4280$2015 Nov, 01:45
LOWERREG$6060$514 Nov, 06:55
RAISE6SEC$5180$014 Nov, 07:10
RAISE60SEC$4290$014 Nov, 08:55
RAISE5MIN$1500$014 Nov, 05:45
LOWER60SEC$650$014 Nov, 14:55
LOWER6SEC$330$014 Nov, 15:15
LOWER5MIN$160$014 Nov, 16:35
Total$8,245

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

ServiceCostSpikesPeakWhen
RAISEREG$8,0900$2015 Nov, 01:45
LOWERREG$3,6610$514 Nov, 06:55
RAISE6SEC$7210$014 Nov, 07:10
RAISE60SEC$5230$014 Nov, 08:55
RAISE5MIN$1540$014 Nov, 05:45
LOWER60SEC$1510$014 Nov, 14:55
LOWER6SEC$850$014 Nov, 15:15
LOWER5MIN$470$014 Nov, 16:35
Total$13,433

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

ServiceCostSpikesPeakWhen
RAISEREG$24,6970$7915 Nov, 03:15
LOWERREG$5,2500$814 Nov, 15:05
RAISE6SEC$3,7340$7114 Nov, 19:40
RAISE60SEC$5380$014 Nov, 05:25
LOWER6SEC$2730$314 Nov, 19:30
LOWER60SEC$1730$314 Nov, 19:30
LOWER5MIN$170$114 Nov, 19:30
RAISE5MIN$130$014 Nov, 06:35
Total$34,695

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

Battery dispatch

Peak moment

Fleet discharged 1,496 MW at 19:30 as NSW spot hit $157/MWh.

Peak moment

Fleet discharged 1,160 MW at 19:00 as QLD spot hit $152/MWh.

Peak moment

Fleet discharged 741 MW at 00:30 as VIC spot hit $136/MWh.

Peak moment

Fleet discharged 217 MW at 06:30 as SA spot hit $162/MWh.

Peak moment

Fleet discharged 3,082 MW at 20:30 as TAS spot hit $122/MWh.

Discharged
7,018MWh
peak 1,496 MW · 19:30
Charged
8,922MWh
peak 2,079 MW
Net
-1,904MWh
discharge − charge
Round-trip
79%
discharge / charge ratio
Discharged
5,091MWh
peak 1,160 MW · 19:00
Charged
5,739MWh
peak 1,269 MW
Net
-649MWh
discharge − charge
Round-trip
89%
discharge / charge ratio
Discharged
3,837MWh
peak 741 MW · 00:30
Charged
4,962MWh
peak 1,296 MW
Net
-1,124MWh
discharge − charge
Round-trip
77%
discharge / charge ratio
Discharged
1,564MWh
peak 217 MW · 06:30
Charged
2,111MWh
peak 424 MW
Net
-547MWh
discharge − charge
Round-trip
74%
discharge / charge ratio
NEM-wide
Discharged
17,511MWh
peak 3,082 MW · 20:30
Charged
21,734MWh
peak 3,783 MW
Net
-4,224MWh
discharge − charge
Round-trip
81%
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-$100$0$100$20000:3007:3714:4521:5205:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
7,018MWh
-1,904
#2QLD
5,091MWh
-649
#3VIC
3,837MWh
-1,124
#4SA
1,564MWh
-547

Generation Mix

TOP FUEL 47.2%
  • Coal47.2% · 100.6 GWh
  • Gas5.0% · 10.7 GWh
  • Hydro6.6% · 14.1 GWh
  • Wind7.4% · 15.7 GWh
  • Solar (utility)13.1% · 27.9 GWh
  • Solar (rooftop)17.4% · 37.1 GWh
  • Battery3.3% · 7.0 GWh
TOP FUEL 65.2%
  • Coal65.2% · 134.4 GWh
  • Gas2.7% · 5.5 GWh
  • Hydro3.6% · 7.4 GWh
  • Wind5.3% · 10.9 GWh
  • Solar (utility)9.3% · 19.1 GWh
  • Solar (rooftop)11.4% · 23.5 GWh
  • Battery2.5% · 5.1 GWh
  • Other0.1% · 0.2 GWh
TOP FUEL 52.4%
  • Coal52.4% · 77.3 GWh
  • Gas2.3% · 3.4 GWh
  • Hydro2.7% · 4.0 GWh
  • Wind20.1% · 29.6 GWh
  • Solar (utility)7.7% · 11.3 GWh
  • Solar (rooftop)12.2% · 18.0 GWh
  • Battery2.6% · 3.8 GWh
TOP FUEL 31.2%
  • Gas31.2% · 10.5 GWh
  • Wind29.3% · 9.8 GWh
  • Solar (utility)4.0% · 1.3 GWh
  • Solar (rooftop)30.9% · 10.4 GWh
  • Battery4.7% · 1.6 GWh
TOP FUEL 73.7%
  • Hydro73.7% · 18.7 GWh
  • Wind19.4% · 4.9 GWh
  • Solar (rooftop)6.9% · 1.8 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0011.5 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:0010.4 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:007.6 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:001.9 GW 0
hydrowindsolar rooftop
00:3006:3712:4518:5201:001.4 GW 0

Renewables

NSW · Daily renewable share
44.0%
VIC · Daily renewable share
47.8%
QLD · Daily renewable share
35.0%
SA · Daily renewable share
61.5%
TAS · Daily renewable share
96.0%
Peak instantaneous
64.8%
at 13:30
Daily NEM-wide share
42.7%
By region (daily share)
  • NSW
    44.0%
  • VIC
    47.8%
  • QLD
    35.0%
  • SA
    61.5%
  • TAS
    96.0%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +20.9 GWh 4 —
NSW1-QLD1 −21.7 GWh 20 —
VIC1-NSW1 +13.9 GWh 16 —
V-SA −7.9 GWh 19 —
T-V-MNSP1 −2.4 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
310.1k tCO₂
▲ 22.4% vs same day last week
Intensity by region
NSW 93.1k tCO₂ 0.428 tCO₂/MWh
QLD 120.2k tCO₂ 0.577 tCO₂/MWh
SA 4.9k tCO₂ 0.144 tCO₂/MWh
VIC 91.9k tCO₂ 0.618 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh