Interconnector Watch: Wednesday 13 May 2026

At 06:35 AEST, NEM-wide interconnector flows are uncongested across all six links, with no binding constraints in the current dispatch interval. The dominant flow is on VIC-NSW (VIC1-NSW1), carrying 423 MW northbound from Victoria into NSW against an export limit of 1,064 MW — utilisation sits at roughly 40%. This flow aligns with the $9.65/MWh price premium NSW ($97.34/MWh) holds over Victoria ($87.69/MWh), with cheaper Victorian generation arbitraging into the higher-priced NSW market. QNI (NSW1-QLD1) is flowing 275 MW southbound into NSW and is effectively at its import limit of 275 MW, making it the tightest link on the network right now despite not being flagged as binding in this interval. The $4.75/MWh spread between QLD ($92.59/MWh) and NSW ($97.34/MWh) would ordinarily pull more flow south, and QNI's proximity to its import limit is the factor compressing that arbitrage opportunity.

Heywood (V-SA) carries just 24 MW eastbound from SA into Victoria — negligible utilisation against a 550 MW import capability — consistent with the narrow $3.08/MWh spread between SA ($84.61/MWh) and VIC ($87.69/MWh). Both Murraylink (V-S-MNSP1) and Basslink (T-V-MNSP1) are at zero flow this interval. Basslink's inactivity is notable given Tasmania carries the highest regional price in the NEM at $106.24/MWh, a $18.55/MWh premium over Victoria. That spread would typically incentivise exports via Basslink, so traders should monitor whether operational or scheduling factors are suppressing flow on that link. Directlink (N-Q-MNSP1) carries 17 MW northbound into Queensland at low utilisation relative to its 63 MW export limit.

Three active constraint notices are material to today's trading. The Armidale No.3 330/132 kV transformer has been on unplanned outage since 8 May, with constraint set N-AR_TX invoked and N-Q-MNSP1 on its left-hand side — this is a live network limitation affecting the QNI corridor and is the likely driver of the tight import limit currently observed on that link. Separately, an unplanned outage of Directlink Leg 3, active since 5 May, has constraint set N-MBTE_1 invoked, also with N-Q-MNSP1 on the left-hand side. The combination of these two active notices means the NSW–QLD corridor is operating under a compounded constraint posture, and any increase in the NSW–QLD price spread could push QNI to a binding position quickly. The Yallourn–Rowville contingency reclassifications from earlier in May have since been cancelled and carry no current interconnector implications.