The federal government amended its proposed gas reservation policy, allowing the Resources Minister to set domestic supply obligations below 20 per cent based on AER forecasts. Scheduled for a January 2028 commencement, the revised legislation introduces mandatory export licenses and director-level penalties for non-compliance. The policy requires formal consultation with state leaders. Resources Minister Madeleine King stated Australian industry will remain dependent on gas for the foreseeable future, citing the ongoing role of the fuel in the energy mix. The national gas reservation scheme is intended to lower domestic electricity costs.
The New South Wales government commenced consultations to tender for 1,500 MW of new firming capacity. The procurement process is expected to consist primarily of gas-fired peaking plants. The infrastructure is intended to address a projected reliability deficit within the next ten years.
The Australian Renewable Energy Agency launched Round 3 of the Solar Sunshot program, offering $250 million to support the manufacture and scale-up of large-scale solar technologies. The agency aims to make large-scale solar cheaper and faster to build. In a separate development, the Australian Renewable Energy Agency committed up to $31.1 million to establish solar robotics manufacturing facilities in Melbourne.
Power and Water Corporation crews restored power to thousands of customers across Alice Springs following a severe storm on 12 October. The Energy and Water Ombudsman NSW released its annual report showing complaints about consumer energy resources including batteries and rooftop solar have doubled since last year. The 2026 Utility Awards announced 17 individual and over 70 corporate finalists across the energy and network infrastructure sectors. WattClarity published a framework exploring factors that contributed to price volatility in New South Wales on 12 October.
The NEM average spot price settled at $83.10/MWh, with New South Wales recording the highest regional average at $115.10/MWh. The highest price reached $237.00/MWh in New South Wales at 06:00. South Australia recorded 17.0 negative price hours, representing 70.8 per cent of the day, with the lowest price hitting -$17.00/MWh at 09:50. New South Wales recorded the demand peak of 8,455 MW at 18:50. Renewables provided 44.3 per cent of energy across the day, reaching an instantaneous peak of 64.0 per cent at 10:40, while batteries discharged 15,010 MWh.
Natural gas prices fell 3.0 per cent to US$3.18 a mmbtu. AEMO opened consultations on its draft approach paper for the 2027 General Power System Risk Review, with submissions closing on 12 November. AER approved an electricity retailer authorisation for Yurringa Energy on 8 October. ElectraNet selected a preferred corridor through the Mid North for its NTx project. Western Power reported four new power infrastructure projects are underway to support 3,470 new residential housing lots.