Overnight sessions were firm across the NEM, with Queensland and Victoria leading elevated pricing — QLD1 ran $225–$338/MWh against demand of 6,800–7,100 MW through the early hours, while VIC1 consistently traded $230–$300/MWh as demand peaked near 6,230 MW. Both regions have moderated sharply into the morning, with QLD1 at $100/MWh and VIC1 at $83/MWh by 06:30 AEST. SA1 similarly fell away from a sustained $165–$262/MWh overnight band. Watch for afternoon demand ramp across VIC and QLD as the week opens; the VIC–NSW interconnector is carrying 778 MW northbound at roughly 57% of export capacity, leaving headroom but worth monitoring through peak.
Tasmania is the standout overnight. During the evening peak, TAS1 reached 100% renewable penetration — approximately 2,952 MW of hydro combined with ~272 MW of wind — with the Regional Reference Price holding stable around $96.22/MWh. That operating condition coincided with a major binding constraint on the T_BLINK_TV_NGZ 330kV interconnector, which recorded an extraordinary shadow price of $7.31 million/MWh during the 05:25–06:00 settlement window, indicating severe transmission congestion limiting dispatch flows out of the region. Regional prices fluctuated between $96–$110/MWh across that period. A separate NEM-wide constraint (F_T+NIL_MG_R6) also bound at a shadow price of $4,293/MWh, flagging congestion in the Nil Magnet region 6 corridor.
WA1 was not quiet overnight. The WEM recorded a moderate price spike to $263/MWh during the 10:10 trading interval — a 104% jump from the prior interval's $129/MWh — before prices stabilised quickly. The event was isolated to a single trading interval, suggesting a brief supply-demand imbalance or constraint breach rather than a sustained tightness. WA1's 24-hour average settled at $141/MWh, the highest of any region covered today, with an intraday high of $263/MWh.