VIC1 experienced a moderate price spike reaching $301.20/MWh across two consecutive intervals (02:15 and 02:20 on 22 June 2026), representing a notable elevation above the preceding $290–$298/MWh price levels. Prices continued to climb to $307.72/MWh in the following interval, indicating sustained upward pressure during this early morning trading window.
The spike occurred during a period of elevated gas-fired generation (1,220.91 MW OCGT), which suggests thermal units were setting marginal prices at higher bid levels. The binding constraint T_BLINK_TV_NGZ exhibited a substantial marginal value of $7,308,000, indicating significant transmission congestion that restricted supply flows and constrained dispatch flexibility, directly elevating the regional marginal price in VIC1.
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.