NEM Overview: Wednesday 12 August 2026
NEM prices are showing a wide regional spread this morning, with WA1 the highest at $125.31/MWh and VIC1 the lowest at $39.86/MWh — a spread of over $85/MWh across the mainland. NSW1 sits at $96.62/MWh and QLD1 at $91.73/MWh, both elevated relative to VIC1 and SA1 ($68.58/MWh), pointing to tighter local conditions in the northern states. TAS1 is mid-pack at $58.37/MWh. NSW1 carries the highest demand at 9,082 MW, followed by QLD1 at 6,915 MW and VIC1 at 6,240 MW — cool overnight temperatures across the eastern states (9-12°C) are lifting heating demand, with NSW1 and VIC1 both showing heating demand readings around 7.8-7.9.
Generation mix reflects the overnight period, with black coal dominant in NSW1 (5,386 MW) and QLD1 (5,756 MW), and brown coal at 4,017 MW in VIC1. Wind output is strong in VIC1 (2,538 MW) and solid in NSW1 (1,069 MW), QLD1 (838 MW) and TAS1 (522 MW), consistent with the overnight wind resource. SA1 renewable penetration stands out at 84.9%, driven by 690 MW of wind against minimal thermal generation, while TAS1 sits at 90.7% renewable courtesy of 693 MW hydro and 522 MW wind. NSW1 (27.3%) and QLD1 (15.5%) show lower renewable shares overnight, with QLD1's carbon intensity at 0.739 tCO2/MWh reflecting its coal-heavy overnight mix. NEM-wide renewable penetration on the platform's composite score reads 45.4%.
Interconnector flows show VIC1 exporting into SA1, with V-SA at 410 MW (binding at its export limit) and V-S-MNSP1 also binding at 63 MW, indicating VIC1 is supporting SA1 demand this morning. NSW1-QLD1 flow sits at -391 MW (NSW1 importing from QLD1), and VIC1-NSW1 flow is 481 MW, with VIC1 exporting into NSW1 near its limit. These binding constraints on the Victoria-SA link are worth watching for traders positioning around regional spreads.
On notices, AEMO's AGC Heart Beat service interruption has been resolved as of yesterday. A Low Reserve Condition notice remains active for South Australia, flagging forecast unserved energy risk in the SA region for the 2027-28 and July 2028 period — a medium-term reliability flag rather than an immediate operational concern. The Liddell-Tomago 330kV line has returned to service, easing a NSW transfer constraint that was in place until 17 August. No active market interventions are in place currently; the SA voltage-related intervention event from 8-9 August was cancelled. Grid stress on the composite score reads 58.5, consistent with the demand and price spread activity seen this morning.