The past 24 hours saw wide price swings across the NEM as demand tracked the usual overnight-to-morning ramp. NSW1 led average pricing at $83/MWh (max $124), while WA1 stood out with the widest range of any region — averaging $111/MWh and peaking at $238/MWh. Two Victoria–South Australia interconnectors, Heywood and Murraylink, were both binding at their import limits as of 10:30am AEST, worth watching for continued congestion signals on that corridor today. Demand is climbing across eastern states this morning, with NSW1 at 8,774 MW and QLD1 at 6,598 MW as of the 06:30 window.
South Australia was the region of note, recording two consecutive negative-price intervals (−$1.02/MWh) mid-afternoon alongside a renewable penetration peak of 95.4%, driven by wind output above 1,750 MW. SA1's price range over the past day was substantial — from around −$7/MWh overnight to a $116.90/MWh peak near 21:40 AEST — underscoring the volatility that accompanies high wind contribution periods.
WA1 recorded the highest average and peak prices of all six regions tracked, at $111/MWh average and a $238/MWh maximum over the past 24 hours. This points to tighter conditions in the West relative to the NEM regions during the period; no further WEM-specific event data was available for today's window.
STPASA shows no LOR conditions forecast across the NEM over the next 48 hours. Gas hub prices eased slightly, with STTM Brisbane at $10.61/GJ and STTM Sydney and Adelaide both at $10.50/GJ, down from $10.65 and $11.00/GJ respectively the prior day. LGC prices continued their upward trend, reaching $8.00 for the week ending 7 August 2026, up from $6.45 the previous week and $5.05 three weeks prior.