The overnight period saw brief negative pricing in both NSW1 (−$7.91/MWh, 04:05–04:10) and QLD1 (−$8.75/MWh, 00:20–00:25) as solar, wind and steady coal output outpaced soft demand. Markets have since turned through the morning ramp, with NSW demand up from a 5,600 MW trough to 9,279 MW and QLD climbing from 3,564 MW to 6,948 MW by 06:35 AEST. Prices have firmed across the board — NSW at $94.83/MWh, QLD at $93.21/MWh, VIC at $92.02/MWh. Watch the morning peak into 8–9am as demand continues climbing and interconnector flows remain tight between Victoria and South Australia.
South Australia was the standout region overnight, hitting a 24-hour high of $255/MWh (avg $116/MWh) and trading at $208.87/MWh as of 06:35 AEST. The price premium coincided with both Heywood and Murraylink interconnectors binding near full capacity — Heywood flowing 155.45 MW into SA against a 155.44 MW export limit — as demand eased back from an evening peak of 2,027 MW but remained elevated relative to the sub-$90/MWh backdrop elsewhere.
WA1 recorded the highest average price of any region over the past 24 hours at $124/MWh, with a peak of $237/MWh. No specific driver events were flagged for WA overnight, but the elevated average against the rest of the fleet is worth monitoring as the day progresses.
No LOR conditions are forecast across the NEM in the next 48 hours.
LGC prices continued their upward run, reaching $8.00 for the week ending 7 August 2026, up from $6.45 the prior week and $5.05 four weeks ago.