A broad negative-pricing stretch swept through the southern and eastern mainland overnight, with SA1, TAS1, VIC1, QLD1 and NSW1 all printing sub-zero intervals as wind and solar output outpaced overnight demand. VIC1 saw the deepest trough at −$60.91/MWh, while a major binding constraint (F_T+LREG_0050) hit a $232,000/MWh shadow price, signalling acute localised scarcity despite the broader oversupply picture. Today, watch how the VIC1-NSW1 interconnector — currently exporting 908 MW and sitting at its export limit — manages the transition as QLD1 and NSW1 demand ramps through the morning peak.
VIC1 was the standout region, swinging from a $181/MWh intraday max down to −$60.91/MWh within the same 24-hour window. The volatility coincided with wind generation around 6,856–7,167 MW alongside brown coal output near 2,790–3,732 MW, illustrating how quickly high renewable output combined with limited flexible headroom can flip pricing outcomes in either direction.
WA1 was the day's most elevated market, averaging $115/MWh with a sharp spike to $314.03/MWh in the 10:20 interval — more than double the prior interval's $166.24/MWh — after prices had been climbing steadily from around $146/MWh over the preceding 25 minutes. This stands in contrast to the negative pricing seen across several NEM regions, underscoring WA1's distinct supply-demand dynamics as an islanded grid.
No LOR conditions are forecast across the NEM over the next 48 hours per STPASA. Gas hub prices firmed slightly, with STTM Brisbane at $11.75/GJ, Adelaide at $11.08/GJ and Sydney at $10.90/GJ, all up modestly from the prior trading day. LGC prices continued their recent decline, easing to $7.25 for the week ending 28 August, down from $8.50 a fortnight earlier.