Overnight brought widespread minor negative pricing across the NEM — NSW1, VIC1, SA1, and QLD1 all dipped below zero during low-demand early-morning intervals, reflecting surplus conditions with high renewable output. By 06:30 AEST, the grid had shifted decisively into the Monday morning ramp: QLD1 was leading at $105.95/MWh (demand 6,607 MW), NSW1 sat at $79/MWh (8,515 MW), VIC1 at $69.95/MWh (5,735 MW), and SA1 at $62.69/MWh (1,501 MW). Watch the QNI interconnector today — it was flowing 268.98 MW north-to-south, reflecting the QLD1–NSW1 price spread. Winter weekday demand ramps are now firmly the daily rhythm to track.
Tasmania is the standout region over the past 24 hours on two counts. Between 20:05 and 20:30, TAS1 ran at 100% renewable penetration, with hydro at 850–1,060 MW complemented by wind at 150–237 MW; spot prices held in the $80–$87/MWh range — no material stress. Separately, a major binding transmission constraint (T_BLINK_TV_NGZ) recorded an exceptional shadow price of $7.308 million, indicating severe internal network congestion that constrained generation dispatch without driving visible spot price spikes. TAS1's 24-hour average of $84/MWh and max of $161/MWh reflect both the constraint tension and the morning demand ramp, with demand reaching 1,172 MW by 06:30 AEST.
WA1 was the highest-priced market in the country over the past 24 hours, averaging $99/MWh against a daily maximum of $132/MWh. No specific constraint or generation events were flagged in the available data. The elevated average relative