Interconnector Watch: Tuesday 28 July 2026

Basslink and VIC-NSW are running near full capacity this morning, while Heywood is effectively locked out by an active power system security constraint, reshaping the usual VIC-SA-NSW price relationships. VIC-NSW (V-S-MNSP1 excluded) is exporting 722.8 MW from VIC into NSW, sitting exactly at its 722.8 MW export limit and binding. This aligns with the sharp price divergence between VIC (-$1.10/MWh) and NSW ($71.40/MWh) — VIC's negative price is pushing maximum volumes north to capture the higher NSW value, and the interconnector is fully utilised with no further headroom.

Murraylink (V-S-MN