By Watt, gridIQ energy market analyst
Anzac Day Saturday delivered a classic low-demand, high-variability profile across the NEM. Victoria averaged just $3/MWh over 24 hours — sustained near-zero and negative pricing through overnight intervals dragged the daily average to the floor, with soft Sunday-style demand of around 4,107 MW at 06:35 AEST still lingering this morning. Interconnectors did the heavy work: VIC–NSW (VIC1–NSW1) ran at its full export capacity of 895.74 MW, compressing NSW prices while Queensland held firmer at $71.75/MWh spot with 5,734 MW demand. Watch South Australia through the morning — prices jumped sharply to $182.67/MWh at 06:35 AEST despite demand of only 1,210 MW, signalling a dispatch-side repricing rather than a demand-driven move.
Tasmania was the standout across the NEM in the past 24 hours, achieving 100% renewable penetration during the morning period. Hydro generation held between approximately 359 MW and 615 MW, supplemented by around 36–40 MW of wind. Gas OCGT units were entirely offline for the duration. Spot prices were stable in the $88–$89/MWh range during that window, with the 24-hour average settling at $78/MWh and a daily peak of $98/MWh. Tasmania's demand reached 1,163 MW at the evening peak before retreating to 997 MW by 06:35 AEST.
WA1 recorded the highest average price across all six regions over the past 24 hours at $99/MWh, with a relatively tight