Evening peaks drove elevated pricing across most NEM regions on Wednesday–Thursday, with SA1 touching $299/MWh at 16:40 AEST and NSW1 and VIC1 both averaging $134/MWh across the 24-hour window. Queensland recorded brief negative pricing of –$25/MWh during the pre-dawn trough (04:25–04:50 AEST), reflecting early-morning oversupply. By 06:30 AEST demand was retreating from session peaks in all regions. Watch SA1 and VIC1 through today's evening ramp — both showed strong price-demand correlation yesterday and winter demand patterns are firming.
Tasmania is today's standout. The binding constraint T_BLINK_TV_NGZ — on the Basslink interconnector between TAS1 and VIC1 — recorded an exceptional shadow price of $7.31 million/MWh, signalling severe transmission congestion limiting flows across Bass Strait. Separately, TAS1 achieved 100% renewable penetration during the evening, with hydroelectric generation supplying approximately 3,315 MW while gas-fired plant remained offline. Retail prices held relatively stable at $97–$102/MWh during the constraint period, with the congestion impact felt in dispatch flows rather than spot price outcomes. A secondary constraint, F_T+NIL_MG_R6, was also binding with marginal values of $9–$21/MWh. The 24-hour TAS1 average was $107/MWh (max $153/MWh).
The WEM recorded a moderate price spike at 10:35–10:50 AEST, with the spot price jumping from $178.50/MWh to