Thursday night into Friday saw a split NEM: Tasmania and Queensland held firm above $60/MWh on average, while Victoria ($16/MWh avg) and South Australia ($17/MWh avg) ran soft, with both regions dipping to negative spot prices by early Saturday morning — SA at –$8.50/MWh and VIC at –$8.89/MWh around 06:30 AEST. NSW averaged $68/MWh with a $93/MWh intraday cap; QLD peaked at $85/MWh during the morning demand ramp near 7,570 MW before easing sharply. Today is a Saturday profile: expect subdued commercial load across all mainland regions through the morning, with the usual late-afternoon demand uptick to watch — QLD saw its peak around 17:50–18:00 AEST. Interconnector flows remain active, with at least one binding constraint on the VIC–NSW corridor shaping cross-regional dispatch.
Tasmania was the standout event of the past 24 hours. During the Friday morning period, TAS1 achieved 100% renewable generation — hydro running at approximately 500–533 MW and wind contributing 18–25 MW, with gas OCGT fully offline. Despite that, TAS1 posted the highest NEM average at $81/MWh and a 24-hour maximum of $140/MWh, reflecting the region's tight supply-demand balance and export dynamics rather than any fuel cost floor. Spot sat at $65.22/MWh by 06:30 AEST with demand at 1,002 MW — a typical subdued weekend morning reading.
Western Australia's wholesale market continued to trade at a premium to the softer NEM regions, with WA1 averaging $108/MWh over the past 24 hours and a relatively tight range up to a maximum of $115/MWh. The narrow spread between average and maximum suggests stable, consistent pricing without sharp volatility events. No material incidents to