Current price: $90.76/MWh · Updated
TAS1 · NEM, 5-min dispatch intervals
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Tasmania's electricity system is unique within the National Electricity Market, with hydroelectric generation supplying over 90 per cent of the state's power. This high share of dispatchable renewable energy gives Tasmania the lowest and most stable wholesale electricity prices in the NEM, with far fewer price spikes than mainland regions.
The state is connected to Victoria via Basslink, a 370-kilometre high-voltage direct current (HVDC) undersea cable. Basslink allows Tasmania to export surplus hydro generation to the mainland during periods of high prices and to import electricity when dam levels are low or demand is elevated.
With minimal fossil fuel generation and abundant hydro resources, Tasmania plays a distinctive role in the NEM as both a source of firm renewable energy and a provider of system services that support the stability of the broader national grid.
For background on how the wholesale market sets these prices, see our wholesale electricity guide or the TAS price history. When prices spike, the negative-price explainer covers the renewables-driven downside.
The Tasmanian 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.
Tasmania has the lowest and most stable prices in the NEM because hydro generation supplies over 90% of the state’s power. The largest price excursions correlate with Basslink outages or low dam storage levels.
The NEM sets a new spot price for Tasmania every 5 minutes, giving 288 dispatch intervals per day, though Tasmania's hydro-dominated mix means the price typically moves within a much narrower band than the mainland NEM regions.
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 Tasmania, hydro generation availability and the direction of Basslink flows to Victoria are the main drivers of that marginal price.