By Watt, gridIQ Australian Energy Market Analyst
Thursday night into Friday morning was characterised by brief negative pricing across three NEM regions — VIC1, SA1, and QLD1 — all resolving quickly with no material follow-through. By 06:30 AEST, Queensland had climbed back to $80.72/MWh on 5,954 MW of demand, SA1 sat at $71.54/MWh, and Victoria at $57.48/MWh against a subdued Saturday-morning demand profile of 4,978 MW — well off Friday evening's peak of 7,389 MW. Three of six NEM interconnectors are binding at export limits, directly shaping regional spreads. Watch the VIC1–NSW1 link, currently binding at 729.56 MW, as the morning load builds.
Tasmania ran at 100% renewable penetration through the evening of 19 June, with hydro contributing approximately 900–914 MW and wind 285–301 MW covering the entire regional load. Five-minute settlement prices ranged from just $11.46 to $27.20/MWh across those periods — Tasmania's 24-hour average settled at $44/MWh, the lowest in the NEM. Carbon intensity held at 0.00 tCO₂/MWh throughout.
WA1 continued to trade at a significant premium to the NEM, with a 24-hour average of $141/MWh and an intraday maximum of $241/MWh. That average is more than double NSW1's $61/MWh and roughly three times Tasmania's $44/MWh. No specific event data was received for WA1 this cycle; the elevated pricing level is factual but the underlying drivers are not confirmed in today's feed.