A volatile overnight session across the NEM was defined by elevated South Australian prices averaging $1,032/MWh — the highest in the grid — driven by repeated spikes including a $20,300/MWh intraday maximum. Victoria averaged $179/MWh with the Heywood interconnector running at its export limit of 479 MW into SA, constraining relief. Queensland briefly touched negative pricing at −$1.92/MWh in the early hours before the morning demand ramp pushed prices to $121/MWh by 06:30 AEST. Gas hub prices moved higher overnight: Brisbane STTM rose to $9.00/GJ from $7.11/GJ the prior day; Sydney lifted to $7.91/GJ from $6.91/GJ. Watch SA and VIC through this morning's peak — both are tracking upward demand trajectories with interconnectors already binding.
Tasmania was the NEM's most operationally notable region in the past 24 hours. A major binding constraint — T_BLINK_TV_NGZ — registered an exceptional shadow price of $7,308,000/MWh, triggering sharp price volatility that spiked to $222/MWh before retreating. Separately, Tasmania achieved 100% renewable generation between 20:00–20:30 AEST, with hydro and wind supplying the full 1,133–1,207 MW of demand. The 24-hour average settled at $115/MWh with a session high of $368/MWh. The constraint reflects the ongoing complexity of managing Basslink flows alongside high hydro dispatch.
WA1 recorded a major single-interval price spike of $388/MWh at