AEMO declared a forecast Lack of Reserve Level 1 condition for New South Wales between 15:30 and 19:30 on 12 October 2026. WattClarity estimated South Australian spot prices fell below minus $100/MWh for several hours on 11 October 2026. The negative pricing event was recorded at 11:00. WattClarity estimated Victoria experienced a large drop in market demand on the same morning.
South Australia faces a potential delay in achieving its net 100 per cent renewable energy generation target. The decarbonisation milestone was originally slated for 2027.
The NEM recorded an average price of $44.90/MWh, ranking lowest for the week and below the seven day average of $67.90/MWh. South Australia recorded the lowest regional average at minus $40.10/MWh. The highest price reached $300/MWh in New South Wales at 22:15, while the lowest was minus $415/MWh in South Australia at 12:10. Negative price hours totalled 27.3 hours in South Australia and 27.0 hours in Victoria. Renewables supplied 49.9 per cent of energy, with an instantaneous peak of 78.5 per cent at 12:00.
TTF Gas prices increased 3.3 per cent to EUR81.43/MWh.
The AER approved the 2026 to 2031 Electricity Pricing and Services Plan for Jemena Electricity Networks. The AER opened its determination for the maximum revenue Powerlink can earn from 1 July 2027 to 30 June 2032. Essential Energy submitted a cost pass through application to the AER to recover costs from the 2025 North Coast weather event. Submissions close on 13 October 2026 for AEMO's guide to registration exemptions consultation. Submissions close on 14 October 2026 for AEMO's power system modelling strategy discussion paper. Submissions close on 22 October 2026 for AEMO's security enablement procedures draft report.