Current price: $98.42/MWh · Updated
QLD1 · NEM, 5-min dispatch intervals
Loading live market data...
Queensland's electricity market is characterised by a diverse generation fleet that includes major black coal power stations such as Gladstone, Callide, and Stanwell, alongside a rapidly growing portfolio of large-scale solar farms. The state's rooftop solar penetration is among the highest in the world, significantly depressing daytime wholesale prices and reshaping the daily price profile.
The significant liquefied natural gas (LNG) export industry in Queensland has implications for the domestic gas market and, by extension, gas-fired electricity generation costs. Queensland is connected to New South Wales via the Queensland-New South Wales Interconnector (QNI), and flows on this link influence spot prices in both regions.
Queensland spot prices are set by AEMO every five minutes as part of the NEM dispatch process, with price outcomes driven by coal plant availability, solar generation levels, gas prices, and interconnector capacity to New South Wales.
For background on how the wholesale market sets these prices, see our wholesale electricity guide or the QLD price history. When prices spike, the negative-price explainer covers the renewables-driven downside.
The Queensland 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.
Queensland prices typically rise overnight and in early morning, once solar output drops to zero and black coal plants (Gladstone, Callide, Stanwell) supply the bulk of demand, or when the QNI interconnector to NSW is constrained.
The NEM sets a new spot price for Queensland every 5 minutes, giving 288 dispatch intervals per day. The transition as rooftop and utility-scale solar output drops off in the late afternoon is typically the fastest-moving period of the Queensland price profile.
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 Queensland, black coal plants typically set that marginal price overnight, while solar output sets it through the middle of the day.