NEM spot prices ran elevated overnight across all mainland regions, with NSW1 averaging $156/MWh (peak $247/MWh), SA1 averaging $160/MWh (peak $240/MWh), and VIC1 at $146/MWh average. By 06:30 AEST, morning ramp demand was already underway — Victoria climbing from an overnight trough near 4,576 MW, Queensland sitting at 6,327 MW, and South Australia at 1,445 MW with prices notably subdued at $145/MWh relative to overnight SA peaks above $200/MWh. Watch today: the QNI was binding at its 300.61 MW import limit into QLD at 07:30 AEST; gas hub prices at Adelaide and Sydney have jumped materially for 28 May delivery ($10.86/GJ and $10.66/GJ respectively, up from $9.34–$9.78/GJ on 27 May), which may weigh on dispatch economics through the day.
Tasmania is today's standout. The region achieved 100% renewable generation on 27 May, with hydroelectric output running at approximately 1,100–1,171 MW and minor wind contributions (14 MW at last read), covering the entire regional load. Despite that, TAS1 recorded the NEM's highest intraday price peak at $311/MWh, and a major binding constraint on the T_BLINK_TV_NGZ transmission interface (Blinkwater–Tarraleah–New Golden Zone corridor) carried a shadow price of $7.308 million — indicating severe internal network congestion that limited dispatch flexibility regardless of generation availability. Spot sat at $97.99/MWh at 06:30 AEST with demand at 1,134 MW and rising.
The Western Australian wholesale market was comparatively contained over the past 24 hours. WA1 averaged $111/MWh with a daily peak of $185/MWh — the lowest average and lowest peak of any of the six regions covered. No notable constraint or supply events have been flagged for WA1 in the current reporting window.
LOR conditions: