Overnight NEM pricing was split along familiar regional lines: Queensland led with an average of $98/MWh (peak $232/MWh) while Victoria remained soft at just $3/MWh average, reflecting the VIC–NSW interconnector flowing 922 MW northbound and binding at its limit — pushing low-cost Victorian generation into NSW and suppressing local prices. Tasmania's constraint event (see below) added network complexity in the early hours. Heading into Wednesday, watch Queensland's evening ramp — spot hit $177.81/MWh with demand at 6,494 MW at 06:30 AEST and climbing. Victoria's cool overnight (6.1°C) is lifting heating load from a mid-afternoon trough of ~4,257 MW toward a projected evening peak.
Tasmania is the standout region today on two counts. First, TAS1 recorded 100% renewable penetration during the early evening — hydro (~445 MW) and wind (~503 MW) covering all demand with no gas peaking required. Second, and more significantly, a binding network constraint T_BLINK_TV_NGZ triggered at approximately 01:10–01:35 UTC with a shadow price of $7,308,000 — an extraordinarily high marginal value indicating severe transmission binding in the Tasmanian network. Despite this, spot prices held in the $88–$89/MWh range, suggesting the constraint was limiting network flows rather than directly setting the regional price. TAS1 closed the 24-hour window with an average of $91/MWh, peaking at $117/MWh, with the evening ramp pushing spot to $107.47/MWh by 06:30 AEST.
The Wholesale Electricity Market was the highest-priced jurisdiction in the dataset over the past 24 hours: WA1 averaged $117/MWh with a maximum of $133/MWh. No specific event data is available for this run, but the pricing level warrants attention for WA-based energy managers and demand-side participants heading into Thursday.