A quiet Saturday morning across the NEM with demand subdued on the back of a mild autumn Sunday lead-in. Queensland touched brief negative pricing at −$2.50/MWh across two 5-minute intervals just after midnight, before recovering. By 06:30 AEST, spot prices were broadly settled: NSW1 averaging $65/MWh, VIC1 $57/MWh, QLD1 at $78.99/MWh in the morning build, and SA1 at $64.79/MWh against demand of just 1,249 MW. Interconnectors running freely, with 575 MW flowing north on VIC–NSW. Watch for any demand lift as commercial activity picks up mid-morning; no supply stress flagged in the 48-hour outlook.
Tasmania ran at 100% renewable penetration across the evening period on 23 May, with 1,005 MW of hydro and 109 MW of wind meeting all demand. Carbon intensity hit 0 tCO₂/MWh. Despite that, TAS1 averaged $99/MWh across the 24-hour window — the highest NEM average — with a daily peak of $150/MWh, reflecting Tasmania's relative isolation and the premium for dispatchable capacity during the 1,325 MW evening peak. South Australia was close behind on penetration at 97.1%, driven by ~1,385 MW of wind, with SA1 spot prices easing from $73.65 to $63.90/MWh across the settlement window.
WA1 was the standout on price across all six regions, averaging $113/MWh over the 24-hour window and peaking at $188/MWh. That average is nearly double most NEM mainland regions and reflects WA's structurally distinct Wholesale Electricity Market. No specific event data is