Mainland NEM prices held in moderate territory overnight, with SA1 the volatile outlier, spiking to $198/MWh against a $66/MWh average. QLD1 saw brief negative pricing before dawn as solar and wind output topped 5,200 MW alongside 3,200 MW of black coal. This morning's numbers show demand building across the eastern states — QLD1 up to 6,577 MW from a 4,155 MW trough, and TAS1 climbing from an overnight low of 1,067 MW to a 1,398 MW morning peak. Spot prices this morning range from $69.48/MWh (TAS1) to $83.42/MWh (SA1), with WA1 sitting well outside the band at $168.53/MWh. Watch the SA1 and WA1 evening peaks for further price movement.
SA1 posted the sharpest price action in the NEM over the past 24 hours, peaking at $198/MWh against an average of $66/MWh. Separately, TAS1 recorded 91.6% renewable penetration during the evening peak, underpinned by roughly 3,317 MW of hydro and 642 MW of wind — though prices there still rose from $55.55/MWh to $69.48/MWh over the interval, a reminder that high renewable shares don't always suppress price movement.
WA1 remains the standout region again today, averaging $146/MWh over 24 hours with a peak of $227/MWh, and sitting at $168.53/MWh this morning — well above the eastern states' band. No specific driver events were flagged for WA1 in this cycle, but the sustained price premium continues to warrant close attention from WA-exposed energy managers.
No LOR conditions are forecast across the NEM in the next 48 hours. East coast gas hub prices eased slightly, with STTM Sydney at $10.80/GJ and Adelaide at $10.54/GJ on 19 July, down from $11.04/GJ each the day prior; Brisbane sits at $11.05/GJ. LGC prices continued their recent decline, closing the week ending 17 July at $5.05, down from $5.25 the previous week and $8.50 four weeks ago.