The last seven days of detected price spikes, negative pricing intervals, record renewables and binding grid constraints across the NEM and WEM. 26 Aug 2026 to 02 Sept 2026.
WA1 experienced a sharp price spike to $303/MWh in the 09:35 trading interval on 1 September 2026, representing a 82% jump from the previous interval's $166.97/MWh. The spike occurred as a single-interval event within a broader period of elevated pricing across the preceding 25 minutes.
A major binding constraint (T_BLINK_TV_NGZ) with an exceptionally high shadow price of $8.352 million was active in TAS1 on 1 September 2026 at 08:00–08:25 UTC, coinciding with modest RRP volatility in the $30–$53 range. The constraint was binding alongside a secondary constraint (F_T+NIL_MRWF_TG_R6) with marginal values in the $71–$105 range, indicating tight system conditions.
Tasmania achieved 100% renewable penetration on 1 September 2026 during the early morning period (06:35–06:55), with wind and hydro generation totalling approximately 1,244–1,359 MW across successive settlement periods. Regional reference prices (RRP) fluctuated between $21.30 and $38.59/MWh during this window, indicating moderate volatility despite the high renewable contribution.
VIC1 experienced sustained negative pricing across three intervals on 1 September 2026, with the minimum price reaching $-34.89/MWh at 04:00. The pricing event occurred during the early morning period when wind and solar generation totalled approximately 2,389 MW, representing a significant portion of the region's total generation mix of around 4,675 MW.
TAS1 experienced sustained negative pricing over a 3-interval window during the early morning period of 1 September 2026, with the minimum price reaching −$20.99/MWh. The region's generation mix was dominated by wind (320–431 MW) and hydro (334–353 MW) with no gas-fired generation active, creating an oversupply condition.
South Australia 1 (SA1) experienced sustained negative pricing over three intervals on 1 September 2026, with prices reaching a minimum of –$47.28/MWh at 02:45. The region's generation mix was dominated by wind (779.3 MW) alongside modest solar and gas output, creating an oversupply condition during the early morning period.
QLD1 experienced sustained negative pricing with a minimum of -$3/MWh across 2 intervals during the late evening of 31 August 2026 and early morning of 1 September 2026. Price fell from $22.85/MWh to negative territory over a 30-minute period, indicating a rapid shift in supply–demand balance.
NSW1 experienced sustained negative pricing with a minimum of -$3.08/MWh across 2 intervals during the early morning period of 1 September 2026. The negative prices occurred within a broader pattern of low to volatile pricing ranging from -$3.08 to $23.95/MWh over an 8-interval window.
South Australia (SA1) experienced very high renewable penetration of 95% during the late evening of 31 August 2026, driven predominantly by wind generation (740 MW) and solar output (288 MW combined). Wholesale electricity prices turned significantly negative, ranging from −$20 to −$119.67/MWh across the settlement period, reflecting oversupply conditions.
A significant binding constraint event occurred in the NEM with constraint F_T+LREG_0050 displaying an exceptionally high shadow price of $232,000 per MWh, indicating severe scarcity in the constrained region. This extreme marginal value substantially exceeded other concurrent binding constraints, which ranged from $3.52 to $71.25 per MWh.
Tasmania experienced sustained negative pricing over three intervals on 31 August 2026, with prices declining to -$6.31/MWh at 22:15. The event occurred during a period of elevated renewable generation (hydro and wind combining to provide approximately 900 MW) with no gas generation online.
VIC1 experienced sustained negative pricing over three intervals (21:50–22:15 on 31 August 2026), with prices declining to a minimum of –$6/MWh. The event occurred during a period of high renewable generation, with combined wind output exceeding 6,800 MW and solar contributing over 600 MW, whilst brown coal generation remained substantial at approximately 3,000 MW.
South Australia (SA1) experienced sustained negative pricing of −$7.14/MWh during the 21:00 settlement interval on 31 August 2026, with negative prices occurring in at least 2 intervals. The region's generation mix was dominated by wind output (1,878.52 MW) with supporting battery and gas-fired generation, creating an oversupply condition.
VIC1 experienced brief negative pricing in two consecutive intervals (16:15–16:20 on 31 August 2026), with prices reaching −$0.05/MWh, following a sharp price collapse from $10.50/MWh. The event was minor in severity and occurred amid high wind generation (approximately 5,550 MW combined) and substantial brown coal output (3,299 MW).
TAS1 experienced sustained negative pricing, with two consecutive intervals settling at −$0/MWh (−$0.04 and −$0.05/MWh) on 31 August 2026 around 16:15–16:20. This followed a sharp price collapse from $9.30/MWh to $0/MWh in the preceding interval, before prices recovered to $11.51–$15.04/MWh in surrounding periods.
A major binding constraint (T_BLINK_TV_NGZ) with an exceptionally high shadow price of $8.352 million/MWh occurred in TAS1 on 31 August 2026 around 14:25–14:50 AEST. Regional electricity prices remained relatively moderate at approximately $25–29/MWh despite the extreme constraint shadow price, suggesting the constraint was actively limiting dispatch rather than driving spot prices upward.
SA1 experienced sustained negative pricing at -$1/MWh across two consecutive 5-minute intervals (14:15 and 14:20 on 31 August 2026), representing a minor pricing event. This followed a period of declining positive prices and occurred during a period of high wind generation (approximately 1,370 MW) with minimal solar output.
Tasmania achieved 100% renewable generation during the 06:35–07:05 UTC settlement period on 31 August 2026, with hydro and wind sources totalling approximately 2,669 MW across multiple dispatch intervals. Prices rose sharply from $50.22/MWh to a peak of $100.10/MWh at 06:50 UTC before moderating to $82.74/MWh by 07:05 UTC.
Tasmania experienced sustained negative pricing in two intervals during the early morning of 31 August 2026, with the lowest price reaching −$3.84/MWh at 03:35. The event occurred during a period of moderate renewable generation, with approximately 350 MW of hydro and 160–190 MW of wind supplying the region.
VIC1 experienced negative pricing in two intervals during the early morning of 31 August 2026, with the minimum price reaching -$3.64/MWh at 03:35. The event occurred during a period of high solar generation (1,235.59 MW) and substantial battery output (167.81 MW), coinciding with low system demand typical of the overnight period.
SA1 experienced sustained negative pricing at -$0.50/MWh and -$0.31/MWh across two consecutive 5-minute intervals (02:45–02:50 on 31 August 2026), following a declining price trend from $1.69/MWh. The generation mix during this period was dominated by solar (501–508 MW) and wind (258 MW) output, totalling approximately 1,347 MW of renewable generation.
South Australia (SA1) experienced 91% renewable penetration during the settlement period ending 31 August 2026 at 00:00, driven by high wind generation (670.6 MW) and combined solar output (708.2 MW) against modest gas-fired generation. Prices collapsed to $0/MWh at 00:00, then recovered to $14.19/MWh by 00:05, indicating a brief oversupply condition followed by rapid rebalancing.
QLD1 experienced brief negative pricing on 30 August 2026 at 23:15 and 23:20 (local time), with minimum price of -$2.91/MWh across two intervals. The event occurred during evening peak with substantial solar generation (approximately 2,950 MW) still contributing alongside coal and wind, creating oversupply conditions.
A severe binding constraint (T_BLINK_TV_NGZ) with an exceptionally high shadow price of $8.352 million/MWh occurred in TAS1 on 30 August 2026 around 21:50–22:15 UTC. Regional spot prices declined sharply from 42.64 $/MWh to 25.10 $/MWh over this 25-minute period, suggesting the constraint was progressively relieved. The TAS1 generation mix was dominated by hydro output (ranging 1152–1281 MW) supplemented by wind (187–229 MW) and gas-fired generation (124–125 MW).
WEM prices in Western Australia spiked to $352.26/MWh during the 12:05 trading interval on 30 August 2026, representing a 161% increase from the previous interval and a sustained step-change from the $115–135/MWh range observed in the preceding 25 minutes. The spike persisted for a single trading interval before resolution is not confirmed in the available data.
Tasmania experienced very high renewable penetration of 89.9% on 30 August 2026, with hydro and wind generation totalling approximately 2,212 MW across six settlement periods. Despite abundant renewable supply, region reference prices (RRP) rose sharply from $15.14/MWh at 06:35 to $85.09/MWh by 07:00, a 462% increase over 25 minutes.
QLD1 experienced sustained negative pricing over a 20-minute window on 30 August 2026, with prices reaching −$8.71/MWh and remaining negative across multiple settlement intervals. The region generated approximately 4.4 GW of solar output during early morning hours alongside substantial black coal and wind generation, creating structural oversupply conditions.
NSW1 experienced sustained negative pricing during the 01:45–01:50 settlement intervals on 30 August 2026, with the minimum price reaching −$4.81/MWh. The negative pricing followed a period of zero and near-zero prices, indicating severe oversupply conditions in the region.
TAS1 experienced sustained negative pricing over two intervals during the early morning of 30 August 2026, with prices declining from $1.04/MWh to a minimum of -$3.56/MWh between 01:25 and 01:45. The region's generation mix was dominated by renewable sources (hydro and wind totalling approximately 530–590 MW) alongside moderate gas-fired generation of around 124 MW.
SA1 experienced sustained negative pricing with the region reaching −$3.09/MWh during the 01:45 settlement interval on 30 August 2026, with negative prices occurring across 2 consecutive intervals. Prices declined progressively from $7.87/MWh to negative territory over a 30-minute period, indicating a rapid shift in supply–demand balance.
Events are detected automatically by gridIQ from AEMO dispatch and constraint data, then enriched with AI-generated causal analysis. For the full searchable archive, see the event history. For deeper context on price spikes and negative pricing, read the negative-price explainer or browse live electricity prices by region.