WEM prices in WA1 spiked sharply to $388.13/MWh in the 03:10 trading interval on 22 June 2026, a significant jump from the preceding $158.98/MWh five minutes earlier. This represents a major single-interval price event occurring during the early morning period with a diverse generation portfolio active across the system.
The price spike coincides with a binding constraint (F_T+RREG_0050) that exhibited elevated marginal values in the preceding intervals, with the constraint's marginal value declining from $142.18 to $48.59 across the five intervals leading to the spike. The sharp price increase to $388.13 suggests the constraint became critically limiting during the 03:10 interval, indicating that system capability to meet demand or manage flows was severely constrained, though the generation mix remained substantial with approximately 2,559 MW online across multiple fuel types including wind (1,004 MW), coal (1,115 MW), and CCGT (460 MW).
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.