Current price: $-6.02/MWh · Updated
SA1 · NEM, 5-min dispatch intervals
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South Australia leads the National Electricity Market in renewable energy penetration, with wind and solar generation regularly supplying the majority of the state's electricity demand. The region is home to the Hornsdale Power Reserve, one of the world's largest lithium-ion battery installations, which provides grid stability and frequency control services.
SA experiences the most volatile wholesale electricity prices in the NEM, with frequent periods of negative pricing during times of high wind and solar output, and occasional extreme price spikes when renewable generation drops and the state relies on gas-fired peaking plants or imports from Victoria via the Heywood interconnector.
The South Australian market provides a glimpse of the challenges and opportunities that arise as electricity grids transition to very high levels of variable renewable generation, making it a closely watched reference point for energy market participants across Australia.
For background on how the wholesale market sets these prices, see our wholesale electricity guide or the SA price history. When prices spike, the negative-price explainer covers the renewables-driven downside.
The South Australian 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.
SA prices can rise sharply when wind and solar output drops and the state relies on gas-fired peaking plants or imports via the Heywood interconnector. SA also records the most frequent negative prices in the NEM during high wind and solar output.
The NEM sets a new spot price for SA every 5 minutes, giving 288 dispatch intervals per day. SA typically shows the largest interval-to-interval swings of any NEM region, moving between negative prices and gas-driven peaks within the same trading day.
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 SA, that marginal price is usually set by wind and solar output relative to demand, with gas peakers setting the price once renewable output drops.