A classic overnight-to-morning ramp played out across the NEM, with demand troughs between 02:00–04:00 AEST giving way to sharp price and load recovery by 06:30. NSW1 led the ramp, climbing from a $0–2/MWh overnight trough near 4,676 MW to $76.77/MWh at 8,385 MW demand, while QLD1 and VIC1 tracked similar patterns. Several regions saw brief negative pricing overnight (SA1, VIC1, TAS1) as wind and solar output outpaced demand in the small hours. TAS1's T_BLINK_TV_NGZ constraint bound twice in 24 hours with an extreme $8.35 million/MWh shadow price, though spot prices stayed moderate ($25–29/MWh), pointing to dispatch limitation rather than price pressure. Today, watch the VIC-NSW interconnector, which is exporting 968 MW and sitting hard against its 891 MW limit — Victoria is the pivotal transit region this morning.
WA1 aside, NSW1 recorded the NEM's highest average price over the past 24 hours at $61/MWh (max $137/MWh), consistent with its strong morning ramp. Tasmania stood out for grid composition, briefly running on 100% renewable generation (hydro + wind, ~2,669 MW) between 06:35–07:05 UTC, with prices rising from $50.22/MWh to a peak of $100.10/MWh as the mix tightened before moderating to $82.74/MWh.
WA1 remained the highest-priced region in the six-region snapshot, averaging $100/MWh over 24 hours with a peak of $181/MWh — well above every NEM region. No further WEM-specific events were reported in today's data; energy managers with WA exposure should note the elevated average relative to the NEM's generally sub-$65/MWh averages.
No LOR conditions are forecast across the NEM in the next 48 hours.
East coast STTM hubs firmed slightly day-on-day: Brisbane rose to $11.55/GJ (from $11.13), Sydney to $10.86/GJ (from $10.75), and Adelaide sat at $10.50/GJ.
LGC prices eased to $7.25 for the week ending 28 August, continuing a gradual decline from $8.50 in mid-August.