VIC1 experienced sustained negative pricing at approximately $-0.10/MWh across eight consecutive 5-minute intervals from 10:20 to 10:55 on 9 June 2026. High wind generation (approximately 7,602 MW combined) combined with coal plant operation created an oversupply condition that the market could not absorb.
The negative pricing reflects excess generation relative to demand that could not be economically curtailed. Multiple binding constraints with significant marginal values—including F_T+LREG_0050 at $37.69/MWh and F_TASCAP_RREG_0220 at $7.79/MWh—indicate that network limitations prevented efficient export or redistribution of the surplus wind-backed generation, forcing the marginal price below zero to incentivise load acceptance.
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.