commodity demand qld — QLD1
Queensland spot price sits at **$66.30/MWh** with demand at **6,552 MW** as of 06:35 AEST, well into the post-evening-peak demand trough. The price-demand relationship across today's session has been pronounced: demand peaked near **8,019 MW** around 18:05 AEST, coinciding with prices consistently above $66–$74/MWh, while the overnight nadir around 09:35 AEST (5,513 MW) saw prices collapse to single digits, including a $0.73/MWh print. The current reading represents demand pulling back from a secondary evening ramp that pushed prices briefly to **$77.06/MWh** at 06:10 AEST when demand hit 6,527 MW — illustrating how tightly the market is pricing marginal supply in this demand band.
The forward forecast for the next dispatch interval (07:00 AEST) sits at **$75.83/MWh**, a step up from the current $66.30/MWh, suggesting AEMO's pre-dispatch sees demand lifting further as the morning commercial load builds. Earlier forecasts issued from 13:32–14:32 AEST had the same interval priced at $80–$84/MWh, and the downward revision to $75.83/MWh through the 06:01 AEST run indicates supply is proving adequate relative to those earlier expectations. The typical Wednesday morning demand ramp toward a business-day peak of 7,500–8,000 MW is the key price risk for the 09:00–11:00 AEST window; that demand band consistently priced $63–$74/MWh through the equivalent period this morning.
A material data quality issue is active: AEMO has issued **Prices Subject to Review** notices under NER Clause 3.9.2B for every interval from 03:35 through 06:30 AEST (approximately 15:35–16:30 UTC on 1 April 2026), citing potentially manifestly incorrect inputs. The sole confirmed interval is 04:45 AEST, where prices were unchanged on review. Traders should treat settled prices across that two-hour-plus window as provisional — any rebid or dispatch cost recovery positions referencing those intervals carry review risk until AEMO finalises outcomes. The volume of concurrent review notices is atypical and warrants close monitoring through the morning session.