Tasmania's electricity market reached 100% renewable generation on 27 May 2026, driven entirely by hydroelectric output (approximately 1,100–1,170 MW) with minor wind contributions. Prices remained elevated in the $87–$98/MWh range during the evening peak period, despite the high renewable penetration and zero gas generation.
The sustained high prices despite abundant renewable supply reflect binding network transmission constraints, particularly F_MAIN+RREG_0220 and F_T+RREG_0050, which created scarcity rents of $5.64–$7.79/MWh. These constraints likely limited the ability to move excess hydro generation from Tasmania's generation zones to meet demand, forcing localised supply tightness that elevated the regional reference price (RRP) despite overall surplus renewable capacity in the region.
Causal analysis generated by gridIQ's synthesis model from live AEMO market data: dispatch prices, generation mix, interconnector flows and market notices in the interval surrounding the event.