A mixed 24 hours across the NEM, with SA1 the standout on volatility — averaging $150/MWh and peaking at $316/MWh — while QLD1 sat at the softer end, averaging $64/MWh with two separate bouts of negative pricing as solar and coal output combined to outstrip demand overnight. Three of the NEM's six interconnectors (Murraylink, Directlink and one other) are currently sitting at operating limits due to control system outages, effectively fixing SA's import/export capacity and contributing to its price premium. Demand is tracking a classic winter shape across most regions — overnight troughs followed by a sharp morning ramp — with NSW1 climbing from ~5,730 MW to 8,023 MW. Watch SA1 pricing and interconnector restoration progress through the day.
SA1 remains the region to watch, trading at $130–$162/MWh through the morning with an overnight spike above $200/MWh as demand ramped to 1,904 MW. With Murraylink and Directlink both constrained by outages, SA's price formation is more exposed to local supply-demand balance than usual — a dynamic worth monitoring if conditions tighten further.
WA1 recorded an average of $112/MWh over the past 24 hours with a peak of $236/MWh — a relatively active session by recent standards. No specific constraint or generation events were flagged for the region; broader WEM detail remains limited in today's dataset.
No LOR conditions are forecast across the NEM over the next 48 hours. Gas hub prices firmed slightly into 14 August, with STTM Brisbane leading at $11.69/GJ, Sydney at $11/GJ and Adelaide at $10.90/GJ, each up modestly on the prior day. LGC prices continued their recent climb, reaching $8/certificate for the week ending 7 August — up from $6.45 the week prior and $5.05 four weeks ago.