The past 24 hours saw widespread negative pricing across the southern NEM overnight as strong wind and solar output met low demand, with VIC1, SA1 and TAS1 all dipping below zero in multiple windows before a firm morning ramp. VIC1 averaged $-2/MWh over the day, the lowest of the six regions, while WA1 stood apart with a $99/MWh average and a $249/MWh peak. Today's watch: the VIC1–SA1 interconnector gap (currently near $70/MWh) as Basslink/Murraylink flows manage the divergence, plus the continuing cold-snap demand ramp in NSW1 (up to 9,063 MW) and QLD1 (6,885 MW) through the Monday morning peak.
Tasmania recorded the day's most notable network event: a major binding constraint (T_BLINK_TV_NGZ) with a shadow price of $8.352 million, occurring twice within 24 hours during periods of strong wind and hydro output (up to 2.76 GW combined). Regional prices swung wildly around these events, from -$15.01/MWh overnight to a $56.79/MWh spike near 07:00, with renewable penetration touching 90.5% at times.
WA1 was the standout region on price this period, averaging $99/MWh with a peak of $249/MWh — well above all NEM regions. No further granular WEM event data was available beyond the six-region price summary.
STPASA shows no LOR conditions forecast over the next 48 hours. East coast gas hub prices eased slightly day-on-day: STTM Sydney fell from $12.49/GJ to $11.79/GJ and Adelaide from $12.41/GJ to $11.74/GJ, while Brisbane sits at $12.33/GJ. LGC pricing continued its recent climb, with the week ending 31 July settling at $6.45, up from $5.05 three weeks prior.