Interconnector Watch: Friday 17 July 2026
Four of six interconnectors are binding against limits at 06:30 AEST, indicating a tightly constrained network moving power broadly south-to-north-cancelling and west-to-east across the Victoria-South Australia corridor.
Heywood (V-SA) is exporting 525.68 MW from Victoria into South Australia, sitting exactly at its export limit — fully utilised. Murraylink (V-S-MNSP1) is similarly maxed out, exporting 99 MW from Victoria to SA, also at its export limit. Combined Victoria-to-SA transfer capability is fully subscribed, and this is reflected in pricing: SA sits at $130.44/MWh, the highest of the mainland regions, a $20/MWh premium over VIC1 at $110.40/MWh. With both interconnectors binding at export limits, SA cannot draw further low-cost VIC generation, so the price gap persists rather than compressing.
On the northern side, QNI (NSW1-QLD1) is binding at -1084.39 MW — a substantial flow from QLD1 into NSW1, sitting right at its import limit for NSW1. Directlink (N-Q-MNSP1) is also binding, flowing -49 MW (QLD1 into NSW1), similarly capped. Combined, close to 1133 MW is flowing from Queensland into NSW1, consistent with QLD1 holding the lowest regional price in the mainland NEM at $102.80/MWh versus NSW1 at $123.99/MWh. The bound imports are capping how much further NSW1 pricing can fall despite the cheaper QLD1 supply sitting upstream, keeping roughly a $21/MWh spread between the two regions.
VIC1-NSW1 and Basslink (T-V-MNSP1) are not binding today. VIC-NSW is flowing 614 MW from Victoria into NSW1, well under its 1345.95 MW export limit, providing headroom for NSW1 to draw more from VIC1 if needed. Basslink is flowing 428.66 MW from TAS1 into VIC1, comfortably under its 456 MW export limit, with no active credible contingency currently constraining it — the earlier lightning-related reclassifications on the Gordon-Chapel St and Farrell-Reece 220kV lines from mid-July have all since reverted to non-credible status. TAS1 remains the lowest-priced region at $99.03/M