The past 24 hours saw moderate NEM pricing overall, with regional averages ranging from $73/MWh (VIC1, QLD1) to $107/MWh (SA1), though volatility surfaced in the price maximums — NSW1 and QLD1 both touched the high-$200s to low-$300s/MWh. A steep NSW morning demand ramp is the key feature to watch today: load climbed from an overnight trough near 6,150 MW (02:45–03:00) to 9,445 MW by 06:30 AEST, lifting spot prices to $133.10/MWh. With NSW1 carrying the NEM's highest load this morning, expect continued price sensitivity through the peak as demand tracks the ramp.
Tasmania recorded high renewable penetration of 92.0% during Saturday evening, with combined hydro and wind output of roughly 1,433–1,696 MW. Despite the strong renewable share, TAS1 prices rose steadily from $68.14/MWh to $100.24/MWh over just 25 minutes, pointing to tightening supply conditions even amid abundant renewable generation — a reminder that high renewable share and price tightness can coexist.
WA1 recorded a 24-hour average of $122/MWh with a maximum of $163/MWh — a comparatively narrow price band versus the eastern regions, with no volatility events flagged for the period. Conditions in the West remain steady.
STPASA shows no LOR conditions forecast across the NEM over the next 48 hours. Gas hub prices firmed slightly day-on-day: STTM Sydney sits at $10.99/GJ, Brisbane at $11.55/GJ (up from $11.45/GJ), and Adelaide at $10.93/GJ (up from $10.90/GJ). LGC prices continued their recent recovery, closing the week ending 24 July at $5.85, up from $5.05 the prior week but still below the $7.00 level seen in early July.