A mixed 24 hours across the NEM, with WA1 running hottest on both average ($144/MWh) and peak ($246/MWh) pricing. Interconnector congestion was a feature overnight, with three of six links binding at 06:25 AEST and VIC1-NSW1 exporting 837 MW near its limit — concentrating congestion on Victoria-centred corridors while QNI and Directlink sat comfortably within limits. Victoria's spot price has since rebounded to $57.68/MWh from overnight lows near -$1.10/MWh in the 04:00–06:00 window. Today's load-shifting advisory flags VIC1 and SA1 troughs near $1–11/MWh in the early hours as the cheapest window NEM-wide — worth checking for flexible load scheduling.
Tasmania recorded very high renewable penetration of 92.2% on the evening of 21 July, with hydro and wind combining for roughly 3.1 GW. Despite this, prices swung from $28–32/MWh up to a peak of $70.68/MWh at 20:30 before easing to $50.23/MWh — a reminder that high renewable shares don't always mean flat pricing, with system tightness still evident during the peak.
WA1 was the standout region overnight, averaging $144/MWh with a peak of $246/MWh — well above every NEM region. No specific driver events were flagged in today's data, but the sustained elevated pricing across the 24-hour window warrants attention for WA-exposed energy managers.
No LOR conditions are forecast across the NEM in the next 48 hours. Gas hub prices firmed slightly day-on-day, with STTM Sydney at $11.10/GJ (from $11.01) and Adelaide at $10.95/GJ (from $10.85); Brisbane sits highest at $11.90/GJ. LGC prices continued their pullback, closing the week ending 17 July at $5.05, down from $5.25 the prior week and $8.50 four weeks ago.