Overnight trading delivered a wide spread in regional outcomes across the NEM. Victoria averaged just $22/MWh — with early-morning prices as low as $12/MWh at 06:30 AEST — while Tasmania averaged $80/MWh and WA1 ran tight between $102–$103/MWh all day. South Australia saw the sharpest intraday swing, touching negative prices (-$13.53/MWh) in the overnight trough before lifting to over $103/MWh during the evening ramp. Interconnector flows are a key watch today: VIC–NSW is the dominant corridor, with multiple links running close to limits and contributing to regional price divergence. Evening demand ramps are already underway in SA, QLD, and TAS heading into this morning.
Tasmania is the standout region over the past 24 hours on two counts. First, a binding network constraint — T_BLINK_TV_NGZ — registered an extraordinary shadow price of $7,308,000/MWh, pointing to a severe transmission limitation on a critical Tasmanian corridor, likely associated with the Basslink interconnector. Notably, TAS1 spot prices remained relatively contained during the event (around $75/MWh), indicating the constraint was binding on flows rather than directly setting the regional price. Second, Tasmania separately recorded 100% renewable penetration during the early-morning period, with hydro (~686 MW) and wind (~375 MW combined) covering the entire state load and zero gas dispatched. The region's 24-hour average settled at $80/MWh, with a peak of $111/MWh.
The WA Wholesale Electricity Market was notably stable over the past 24 hours, with WA1 averaging $102/MWh against a maximum of just $103/MWh — an unusually compressed price band indicating little intraday volatility. While detailed dispatch data is unavailable, the consistently elevated level warrants monitoring by market participants operating in the South West Interconnected System. No