NEM spot prices fell 32.8 per cent week-on-week to average $57.57/MWh, providing a sharp reprieve from last week's extreme volatility. The drop reverses the recent trend of elevated prices that saw the 7-day average sitting above $85/MWh. WattClarity analysis of the late-July price spikes in South Australia highlights the tight supply-demand balance that drove the recent market stress. The latest price collapse underscores the market's sensitivity to weather conditions and renewable output shifts.
On the network front, Jemena welcomed the Australian Energy Regulator's final determination on its 2026-31 electricity distribution pricing plan. AER approved Jemena's 2026-31 Electricity Pricing and Services Plan, which the distributor says will strengthen its role in the energy transition while reducing network costs for customers. Meanwhile, AEMO has begun planning for its 2026 Transmission Plan for System Security. The market operator confirmed it is incorporating stakeholder feedback from the 2025 process into its early development work on the critical grid security roadmap.
The day's dominant theme was the accelerating scale of electric vehicle adoption and manufacturing. Tesla produced its 10 millionth electric vehicle globally, a significant manufacturing milestone achieved six years after its first million. More than 180,000 of these vehicles are now on Australian roads, representing a substantial and rapidly growing load source for network planners. The sheer volume highlights the pace of the consumer-led transition, placing further pressure on charging infrastructure and demand management strategies.
Australia's role in the global EV supply chain is also expanding beyond passenger cars. The world's largest electric ferry, built in Tasmania, began its voyage to Argentina after being loaded onto a heavy lift vessel. The export showcases Australian advanced manufacturing capability in specialised electric mobility. At the premium end of the consumer market, Genesis's flagship GV90 electric SUV was spotted testing in Australia. The sighting suggests another high-end EV model is preparing for a local launch, further diversifying the options available to Australian buyers.
AEMO has a busy week ahead with several key consultation deadlines approaching. Submissions on proposed changes to the gas market's transportation service point register close this Wednesday. Stakeholders also have until the end of the week to provide feedback on the operator's 2026 Gas Market Parameters Review. Further out, responses to the draft report on Project EnergyConnect's Stage 2 inter-network test program are due by 13 August.