Autumn demand profiles shaped overnight trading across the NEM, with all regions posting moderate averages well below cap. NSW1 and VIC1 tracked textbook weekday curves — NSW1 sitting at $87.51/MWh and 7,568 MW at 06:30 AEST as the evening ramp builds, VIC1 at $74.69/MWh with demand climbing from an overnight trough near 3,570 MW. Queensland peaked at 7,948 MW and $103.98/MWh around 06:10 UTC before easing to $64.83/MWh and 6,466 MW by 06:30 AEST. South Australia led on renewable intensity with 87% penetration and a spot of $74.76/MWh at 1,290 MW. Watch interconnector flows today — QNI is binding at its import limit of −553.37 MW (Queensland drawing from NSW), which may influence how midday solar shapes Queensland pricing.
Tasmania is the standout event of the past 24 hours. The T_BLINK_TV_NGZ binding constraint recorded an extraordinary shadow price of $7,308,000 — indicative of severe network congestion being managed through dispatch rather than price. Despite this, TAS1 spot prices remained contained in the $96–$100/MWh range during the affected window, with the grid running on hydro (~630–663 MW) and minimal wind. Separately, Tasmania achieved 100% renewable penetration during the morning period, with hydro at 601 MW and wind at 127 MW comprising the entire dispatch stack — at a stable 0 tCO₂/MWh intensity. A major NEM-level constraint, F_Q+8E_L1, also bound in Queensland with a shadow price of $182,700/MWh, pointing to an acute localised transmission bottleneck. TAS1's 24-hour average of $97/MWh was the highest in the NEM.
WA1 was the highest-averaging market across both interconnected and standalone systems over the past 24 hours, with a daily average of $111/MWh and a narrow band