NEM
NEM Daily analysis

Thursday 29 October 2026

Trading day 2026-10-29

Market Snapshot

SA records 20.5 negative hours as NEM average price reaches $77.4/MWh

NSW recorded the highest regional average at $91.7/MWh, followed by VIC at $90.3/MWh and TAS at $87.2/MWh. QLD averaged $64.7/MWh with 10.2 negative hours, while SA averaged $49.5/MWh with 20.5 negative hours. No region recorded cap hours during the trading day, and NSW was the only region with zero negative hours. NSW recorded the highest demand peak of 8312 MW at 18:50, while QLD peaked at 7762 MW at 18:45. VIC reached a demand peak of 6160 MW at 06:40, and SA peaked at 1506 MW at 19:50. Coal accounted for 46.5 per cent of generation, while rooftop solar provided 21.1 per cent and utility solar 12.7 per cent. Wind contributed 7.8 per cent and hydro 6.8 per cent, while batteries discharged 20,443 MWh with a net position of -2353 MWh. FCAS costs remained low across all services, with regulation raise recording the highest total cost at $37,649. Total emissions were 294,374 tonnes of carbon dioxide, representing a 5.0 per cent decrease from the same weekday last week.

Today · Pre-dispatch forecasts show NSW reaching a peak of $136.9/MWh at 23:00, while QLD is forecast to reach $124.64/MWh at 23:00.

In context · The NEM average of $77.4/MWh was 13.9 per cent below the seven-day average, ranking sixth out of the last seven days. SA's average of $49.5/MWh was the lowest for the region in the seven-day period, which ranged up to $86.1/MWh.

NSW $92VIC $90QLD $65SA $50TAS $87
Numbers-only recap · gemini-3.1-pro-preview

Prices

Trading day · 04:00 → 04:00 AEST · 30-min average

NSW VIC QLD SA TAS
$0 $38 $75 $113 $150 -$40 $8 $55 $103 $150 -$10 $30 $70 $110 $150 -$220 -$127 -$35 $58 $150 -$50 $0 $50 $100 $150 05:00 11:00 17:00 23:00 05:00
Region Avg VWAP Min Max Neg Cap
NSW $92 $98 $3 $166 0 0
QLD $65 $74 -$9 $157 122 0
SA $50 $87 -$282 $143 246 0
VIC $90 $96 -$68 $210 52 0
TAS $87 $89 -$59 $215 46 0

Min · Max are 5-minute dispatch extremes; the price chart plots 30-minute averages, so its peak reads lower.

Demand

NSW
Peak
8,312MW
19:50
Trough
3,483MW
14:00
Energy
300.9GWh
QLD
Peak
7,762MW
19:45
Trough
3,722MW
11:05
Energy
276.8GWh
SA
Peak
1,506MW
20:50
Trough
-141MW
13:35
Energy
43.5GWh
VIC
Peak
6,160MW
07:40
Trough
3,216MW
15:30
Energy
237.9GWh
TAS
Peak
1,155MW
19:35
Trough
788MW
12:40
Energy
46.7GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$5,5100$2029 Oct, 16:35
LOWERREG$1,2750$1429 Oct, 16:50
LOWER60SEC$5980$229 Oct, 16:20
LOWER5MIN$3990$529 Oct, 16:50
RAISE6SEC$1430$029 Oct, 06:10
LOWER6SEC$1370$129 Oct, 14:50
RAISE60SEC$1210$029 Oct, 06:10
RAISE5MIN$360$029 Oct, 22:35
Total$8,219

Cost = NSW RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$9,1160$2029 Oct, 16:35
LOWERREG$4,7820$1429 Oct, 16:50
LOWER60SEC$5590$229 Oct, 16:20
LOWER5MIN$5080$529 Oct, 16:50
RAISE6SEC$1910$029 Oct, 06:10
RAISE60SEC$1430$029 Oct, 06:10
LOWER6SEC$1040$129 Oct, 14:50
RAISE5MIN$310$029 Oct, 22:35
Total$15,433

Cost = QLD RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$8,9260$2029 Oct, 16:35
LOWERREG$3,3330$1429 Oct, 16:50
LOWER60SEC$6990$229 Oct, 16:20
LOWER5MIN$1980$529 Oct, 16:50
RAISE6SEC$1760$029 Oct, 06:10
RAISE60SEC$1710$029 Oct, 06:10
LOWER6SEC$1480$129 Oct, 14:50
RAISE5MIN$680$029 Oct, 22:35
Total$13,719

Cost = VIC RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$4,4330$2029 Oct, 16:35
LOWERREG$3,6410$1429 Oct, 16:50
LOWER60SEC$7200$229 Oct, 16:20
LOWER5MIN$4330$529 Oct, 16:50
RAISE6SEC$1780$029 Oct, 06:10
LOWER6SEC$1630$129 Oct, 14:50
RAISE60SEC$1510$029 Oct, 06:10
RAISE5MIN$310$029 Oct, 22:35
Total$9,750

Cost = SA RRP × cleared MW per 5-min interval.

ServiceCostSpikesPeakWhen
RAISEREG$9,6650$7029 Oct, 11:00
LOWERREG$9,1680$6529 Oct, 16:35
RAISE6SEC$3,9960$5030 Oct, 02:50
RAISE60SEC$7750$329 Oct, 11:05
LOWER6SEC$7090$329 Oct, 08:05
LOWER60SEC$1780$329 Oct, 11:05
RAISE5MIN$390$029 Oct, 07:40
LOWER5MIN$120$229 Oct, 17:00
Total$24,543

Cost = TAS RRP × cleared MW per 5-min interval.

Battery dispatch

Peak moment

Fleet discharged 1,609 MW at 20:00 as NSW spot hit $115/MWh.

Peak moment

Fleet discharged 1,471 MW at 20:00 as QLD spot hit $104/MWh.

Peak moment

Fleet discharged 781 MW at 20:00 as VIC spot hit $118/MWh.

Peak moment

Fleet discharged 463 MW at 20:00 as SA spot hit $117/MWh.

Peak moment

Fleet discharged 4,325 MW at 20:00 as TAS spot hit $101/MWh.

Discharged
9,028MWh
peak 1,609 MW · 20:00
Charged
8,820MWh
peak 1,923 MW
Net
+208MWh
discharge − charge
Round-trip
102%
discharge / charge ratio
Discharged
5,424MWh
peak 1,471 MW · 20:00
Charged
6,845MWh
peak 1,687 MW
Net
-1,421MWh
discharge − charge
Round-trip
79%
discharge / charge ratio
Discharged
4,120MWh
peak 781 MW · 20:00
Charged
4,962MWh
peak 1,327 MW
Net
-842MWh
discharge − charge
Round-trip
83%
discharge / charge ratio
Discharged
1,872MWh
peak 463 MW · 20:00
Charged
2,169MWh
peak 494 MW
Net
-297MWh
discharge − charge
Round-trip
86%
discharge / charge ratio
NEM-wide
Discharged
20,443MWh
peak 4,325 MW · 20:00
Charged
22,796MWh
peak 3,932 MW
Net
-2,353MWh
discharge − charge
Round-trip
90%
discharge / charge ratio

Fleet net dispatch · spot-price overlay · 30-min average

Net MWdischarge ↑ · charge ↓NSWQLDVICSATAS$/MWh
-5.0 GW0 MW5.0 GW-$300-$200-$100$0$100$20000:3007:3714:4521:5205:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
9,028MWh
+208
#2QLD
5,424MWh
-1,421
#3VIC
4,120MWh
-842
#4SA
1,872MWh
-297

Generation Mix

TOP FUEL 43.8%
  • Coal43.8% · 93.5 GWh
  • Gas1.7% · 3.6 GWh
  • Hydro4.0% · 8.4 GWh
  • Wind3.5% · 7.4 GWh
  • Solar (utility)18.2% · 38.7 GWh
  • Solar (rooftop)24.3% · 51.8 GWh
  • Battery4.2% · 9.0 GWh
  • Other0.4% · 0.9 GWh
TOP FUEL 56.3%
  • Coal56.3% · 117.9 GWh
  • Gas0.3% · 0.6 GWh
  • Hydro4.2% · 8.8 GWh
  • Wind4.9% · 10.3 GWh
  • Solar (utility)12.6% · 26.3 GWh
  • Solar (rooftop)19.1% · 40.0 GWh
  • Battery2.6% · 5.4 GWh
TOP FUEL 56.9%
  • Coal56.9% · 87.4 GWh
  • Gas0.4% · 0.6 GWh
  • Hydro5.0% · 7.7 GWh
  • Wind8.3% · 12.8 GWh
  • Solar (utility)10.0% · 15.4 GWh
  • Solar (rooftop)16.7% · 25.7 GWh
  • Battery2.7% · 4.1 GWh
TOP FUEL 41.0%
  • Gas19.0% · 7.4 GWh
  • Wind32.9% · 12.7 GWh
  • Solar (utility)2.3% · 0.9 GWh
  • Solar (rooftop)41.0% · 15.9 GWh
  • Battery4.8% · 1.9 GWh
TOP FUEL 66.6%
  • Gas0.4% · 0.1 GWh
  • Hydro66.6% · 19.0 GWh
  • Wind24.9% · 7.1 GWh
  • Solar (rooftop)8.1% · 2.3 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:0011.1 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:0011.0 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:007.7 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:002.3 GW 0
gashydrowindsolar rooftop
00:3006:3712:4518:5201:001.6 GW 0

Renewables

NSW · Daily renewable share
51.5%
VIC · Daily renewable share
43.0%
QLD · Daily renewable share
47.8%
SA · Daily renewable share
77.5%
TAS · Daily renewable share
101.8%
Peak instantaneous
77.3%
at 13:05
Daily NEM-wide share
48.3%
By region (daily share)
  • NSW
    51.5%
  • VIC
    43.0%
  • QLD
    47.8%
  • SA
    77.5%
  • TAS
    101.8%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +31.9 GWh 0 —
NSW1-QLD1 −24.6 GWh 4 —
VIC1-NSW1 −1.2 GWh 32 —
V-SA −2.3 GWh 13 —
T-V-MNSP1 −499 MWh 1 —

Per-region net of NETINTERCHANGE proxied to a representative interconnector. Full per-interconnector decomposition + hours-at-limit needs DINTERCONNECTOR parsing (follow-up).

Emissions

Total emissions
294.4k tCO₂
▼ 5.0% vs same day last week
Intensity by region
NSW 83.0k tCO₂ 0.379 tCO₂/MWh
QLD 103.7k tCO₂ 0.489 tCO₂/MWh
SA 3.5k tCO₂ 0.089 tCO₂/MWh
VIC 104.0k tCO₂ 0.671 tCO₂/MWh
TAS 80 tCO₂ 0.003 tCO₂/MWh