Current price: $25.12/MWh · Updated
NSW1 · NEM, 5-min dispatch intervals
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New South Wales is the largest region in the National Electricity Market (NEM) by demand, with peak loads regularly exceeding 7,000 MW during summer heatwaves. The state's generation fleet is dominated by black coal-fired power stations including Eraring, Bayswater, Vales Point, and Mt Piper, which collectively supply the bulk of baseload electricity to the NSW grid.
NSW is experiencing a significant transition as ageing coal assets approach retirement and utility-scale solar and wind farms are commissioned across the state. Rooftop solar adoption continues to grow rapidly, reshaping the daytime demand profile. The region is interconnected with Victoria to the south and Queensland to the north, and these interconnector flows play a critical role in managing supply during periods of high demand or generator outages.
The NSW spot price is set every five minutes by AEMO through the NEM dispatch process, with prices influenced by coal plant availability, interconnector constraints, and the increasing penetration of variable renewable generation.
For background on how the wholesale market sets these prices, see our wholesale electricity guide or the NSW price history. When prices spike, the negative-price explainer covers the renewables-driven downside.
The New South Wales wholesale electricity spot price is set by AEMO every 5 minutes as part of the National Electricity Market (NEM) dispatch process. The live price and 24-hour chart are shown above.
NSW prices typically rise during periods of high demand, such as summer heatwaves, when black coal plant availability (Eraring, Bayswater, Vales Point, Mt Piper) is reduced or when interconnector flows from Victoria and Queensland are constrained.
The NEM sets a new spot price for NSW every 5 minutes, giving 288 dispatch intervals per day. Prices can move quickly around the evening demand peak, when coal and gas output ramps up to cover the drop in solar generation.
AEMO's dispatch engine matches generator bids to forecast demand every 5 minutes. The price is set by the most expensive generator needed to meet demand in that interval, subject to network constraints. In NSW, that marginal generator is most often a coal or gas unit.