A mixed 24 hours across the NEM: brief negative pricing hit NSW1, VIC1 and TAS1 in the overnight trough (02:40–03:10) as demand fell as low as ~750 MW in Tasmania, before a sharp swing back through the morning ramp. A major binding constraint (F_T+LREG_0050) pushed shadow pricing to $232,000/MWh during the dispatch interval, underscoring how quickly conditions tightened despite the earlier oversupply. SA1 recorded the session high of $264/MWh overnight on a demand spike. Watch today's evening peak across NSW1, VIC1 and QLD1, all trading in the $110–$120/MWh band at 06:30 AEST with demand still climbing.
South Australia stood out with an average of $114/MWh and a peak of $264/MWh over the past 24 hours, the highest average of the mainland NEM regions. The region's price path tracked demand closely — SA1 sits at $113.07/MWh at 06:30 AEST with demand at 1,237 MW, down sharply from the overnight peak that drove the $264/MWh print. Tasmania meanwhile touched 100% renewable penetration during the period on combined hydro and wind output of ~2,062 MW, while Basslink flowed 448.7 MW into Victoria — 97.8% of its export limit.
WA1 recorded the highest average price of all six regions at $126/MWh, with a peak of $262/MWh. A moderate price spike to $261.13/MWh occurred in the 13:35 interval, a sharp step up from the preceding $146–151/MWh range, within a generation mix of 1,290 MW combined CCGT/OCGT gas and 353 MW wind. No further WEM events flagged in the past 24 hours.
No LOR conditions are forecast across the NEM over the next 48 hours per STPASA. East coast gas hub prices firmed slightly, with STTM Brisbane at $11.16/GJ and Adelaide at $11.10/GJ on 22 August, both up from the prior day ($10.66/GJ Adelaide, $10.99/GJ Sydney on 21 August); Sydney eased marginally to $10.93/GJ. LGC prices softened to $7.75 for the week ending 21 August, down from $8.50 the previous week, though still above the $6.45 level recorded four weeks ago.