NEM
NEM Daily analysis

Tuesday 10 November 2026

Trading day 2026-11-10

Market Snapshot

SA records 16.2 hours of negative prices as NEM average reaches $68.0/MWh

TAS reached $350.2/MWh at 07:25, and AEMO's notice at 07:20 stated prices for the 07:25 interval were subject to review. SA recorded a minimum of -$99.7/MWh at 08:30, and AEMO's notice at 08:25 stated prices for the 08:30 interval were subject to review. NSW recorded the highest regional average at $75.8/MWh, while SA recorded 16.2 hours of negative prices.

NSW recorded the highest demand peak of 8416 MW at 19:05, and QLD demand peaked at 8256 MW at 18:30. Renewables accounted for 51.4 per cent of generation, reaching an instantaneous peak of 80.2 per cent at 11:30. Coal provided 44.1 per cent of the mix, while rooftop solar contributed 20.9 per cent.

Batteries discharged 21,128 MWh with a net position of -878 MWh, and total emissions were 274,942 tonnes of carbon dioxide. FCAS costs were highest for raise regulation at $45,352, peaking at $253/MW in TAS, and AEMO issued a reserve notice for MT PASA at 14:52.

Today · Pre-dispatch forecasts show SA reaching $9300.05/MWh at 19:00.

In context · The NEM average price was $12.9/MWh above the seven-day average of $55.1/MWh, ranking highest for the week. The NEM average was below the $89.8/MWh recorded on the same weekday last week.

NSW $76VIC $64QLD $72SA $62TAS $75
Numbers-only recap · gemini-3.1-pro-preview

Prices

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

NSW VIC QLD SA TAS
-$10 $30 $70 $110 $150 -$10 $30 $70 $110 $150 -$10 $30 $70 $110 $150 -$40 $28 $95 $163 $230 -$10 $30 $70 $110 $150 05:00 11:00 17:00 23:00 05:00
Region Avg VWAP Min Max Neg Cap
NSW $76 $87 -$8 $150 92 0
QLD $72 $78 -$9 $142 92 0
SA $62 $78 -$100 $321 194 0
VIC $64 $71 -$30 $190 62 0
TAS $75 $77 -$7 $350 36 0

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

Demand

NSW
Peak
8,416MW
20:05
Trough
3,600MW
13:40
Energy
299.8GWh
QLD
Peak
8,256MW
19:30
Trough
5,030MW
13:25
Energy
302.7GWh
SA
Peak
1,588MW
20:30
Trough
332MW
15:10
Energy
53.3GWh
VIC
Peak
6,219MW
18:45
Trough
2,906MW
12:25
Energy
222.3GWh
TAS
Peak
1,133MW
20:35
Trough
835MW
12:05
Energy
47.8GWh

FCAS

ServiceCostSpikesPeakWhen
RAISEREG$10,2140$2010 Nov, 18:05
LOWERREG$1,1310$710 Nov, 08:35
LOWER5MIN$1570$410 Nov, 16:15
LOWER60SEC$1320$110 Nov, 14:45
RAISE6SEC$1230$010 Nov, 05:55
RAISE60SEC$1000$010 Nov, 05:55
LOWER6SEC$820$010 Nov, 15:05
RAISE5MIN$360$010 Nov, 05:05
Total$11,975

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

ServiceCostSpikesPeakWhen
RAISEREG$8,6620$2010 Nov, 18:05
LOWERREG$5,4840$710 Nov, 08:35
RAISE6SEC$1310$010 Nov, 05:55
RAISE60SEC$930$010 Nov, 05:55
LOWER60SEC$910$110 Nov, 14:45
LOWER6SEC$600$010 Nov, 15:05
LOWER5MIN$390$410 Nov, 16:15
RAISE5MIN$220$010 Nov, 05:05
Total$14,583

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

ServiceCostSpikesPeakWhen
RAISEREG$9,4780$2010 Nov, 18:05
LOWERREG$4,1130$710 Nov, 08:35
LOWER60SEC$2580$110 Nov, 14:45
LOWER5MIN$1900$410 Nov, 16:15
LOWER6SEC$1490$010 Nov, 15:05
RAISE6SEC$1140$010 Nov, 05:55
RAISE60SEC$1130$010 Nov, 05:55
RAISE5MIN$610$010 Nov, 05:05
Total$14,476

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

ServiceCostSpikesPeakWhen
RAISEREG$4,5660$2010 Nov, 18:05
LOWERREG$3,3190$710 Nov, 08:35
LOWER5MIN$2750$410 Nov, 16:15
LOWER60SEC$2560$110 Nov, 14:45
RAISE6SEC$1990$010 Nov, 05:55
LOWER6SEC$1940$010 Nov, 15:05
RAISE60SEC$1540$010 Nov, 05:55
RAISE5MIN$540$010 Nov, 05:05
Total$9,017

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

ServiceCostSpikesPeakWhen
RAISEREG$12,4330$25310 Nov, 08:25
LOWERREG$6,0690$3610 Nov, 05:05
RAISE6SEC$8460$310 Nov, 08:25
RAISE60SEC$8000$010 Nov, 05:05
LOWER6SEC$2590$310 Nov, 08:40
LOWER60SEC$2150$110 Nov, 14:45
LOWER5MIN$110$110 Nov, 16:10
RAISE5MIN$10$010 Nov, 06:40
Total$20,635

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

Battery dispatch

Peak moment

Fleet discharged 1,729 MW at 20:00 as NSW spot hit $120/MWh.

Peak moment

Fleet discharged 1,298 MW at 19:30 as QLD spot hit $123/MWh.

Peak moment

Fleet discharged 926 MW at 20:00 as VIC spot hit $113/MWh.

Peak moment

Fleet discharged 298 MW at 23:30 as SA spot hit $111/MWh.

Peak moment

Fleet discharged 3,910 MW at 20:00 as TAS spot hit $115/MWh.

Discharged
8,906MWh
peak 1,729 MW · 20:00
Charged
9,075MWh
peak 1,783 MW
Net
-170MWh
discharge − charge
Round-trip
98%
discharge / charge ratio
Discharged
4,641MWh
peak 1,298 MW · 19:30
Charged
5,331MWh
peak 1,157 MW
Net
-690MWh
discharge − charge
Round-trip
87%
discharge / charge ratio
Discharged
5,548MWh
peak 926 MW · 20:00
Charged
5,409MWh
peak 930 MW
Net
+139MWh
discharge − charge
Round-trip
103%
discharge / charge ratio
Discharged
2,033MWh
peak 298 MW · 23:30
Charged
2,190MWh
peak 373 MW
Net
-157MWh
discharge − charge
Round-trip
93%
discharge / charge ratio
NEM-wide
Discharged
21,128MWh
peak 3,910 MW · 20:00
Charged
22,005MWh
peak 3,942 MW
Net
-878MWh
discharge − charge
Round-trip
96%
discharge / charge ratio

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

Net MWdischarge ↑ · charge ↓NSWQLDVICSATAS$/MWh
-4.0 GW-2.0 GW0 MW2.0 GW4.0 GW-$100$0$100$200$30000:3007:3714:4521:5205:00

Regional dispatch ranking

RegionDischargedNet
#1NSW
8,906MWh
-170
#2VIC
5,548MWh
+139
#3QLD
4,641MWh
-690
#4SA
2,033MWh
-157

Generation Mix

TOP FUEL 43.0%
  • Coal43.0% · 87.9 GWh
  • Gas0.5% · 1.1 GWh
  • Hydro4.5% · 9.1 GWh
  • Wind4.5% · 9.3 GWh
  • Solar (utility)17.7% · 36.2 GWh
  • Solar (rooftop)25.2% · 51.5 GWh
  • Battery4.4% · 8.9 GWh
  • Other0.3% · 0.5 GWh
TOP FUEL 57.5%
  • Coal57.5% · 120.5 GWh
  • Gas1.1% · 2.3 GWh
  • Hydro3.2% · 6.8 GWh
  • Wind6.2% · 13.0 GWh
  • Solar (utility)13.0% · 27.4 GWh
  • Solar (rooftop)16.6% · 34.8 GWh
  • Battery2.2% · 4.6 GWh
  • Other0.1% · 0.2 GWh
TOP FUEL 47.8%
  • Coal47.8% · 76.8 GWh
  • Gas0.2% · 0.3 GWh
  • Hydro3.7% · 5.9 GWh
  • Wind16.9% · 27.2 GWh
  • Solar (utility)7.0% · 11.3 GWh
  • Solar (rooftop)20.8% · 33.4 GWh
  • Battery3.5% · 5.5 GWh
  • Other0.1% · 0.2 GWh
TOP FUEL 60.3%
  • Gas7.8% · 4.0 GWh
  • Wind60.3% · 31.2 GWh
  • Solar (utility)2.2% · 1.1 GWh
  • Solar (rooftop)25.8% · 13.3 GWh
  • Battery3.9% · 2.0 GWh
TOP FUEL 78.3%
  • Hydro78.3% · 16.1 GWh
  • Wind12.7% · 2.6 GWh
  • Solar (rooftop)9.0% · 1.9 GWh
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:0011.4 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:0010.5 GW 0
coalgashydrobattery dischargewindsolar utilitysolar rooftopotherBattery (charge)
00:3006:3712:4518:5201:007.8 GW 0
gasbattery dischargewindsolar utilitysolar rooftopBattery (charge)
00:3006:3712:4518:5201:002.8 GW 0
hydrowindsolar rooftop
00:3006:3712:4518:5201:001.1 GW 0

Renewables

NSW · Daily renewable share
52.4%
VIC · Daily renewable share
53.6%
QLD · Daily renewable share
44.6%
SA · Daily renewable share
110.4%
TAS · Daily renewable share
73.9%
Peak instantaneous
80.2%
at 12:30
Daily NEM-wide share
51.4%
By region (daily share)
  • NSW
    52.4%
  • VIC
    53.6%
  • QLD
    44.6%
  • SA
    110.4%
  • TAS
    73.9%

Interconnectors

Region (proxy) Net flow Direction changes Hours at limit
N-Q-MNSP1 +14.9 GWh 32 —
NSW1-QLD1 −24.1 GWh 18 —
VIC1-NSW1 +11.5 GWh 28 —
V-SA +15.0 GWh 5 —
T-V-MNSP1 −14.1 GWh 0 —

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
274.9k tCO₂
▼ 12.6% vs same day last week
Intensity by region
NSW 77.3k tCO₂ 0.367 tCO₂/MWh
QLD 105.6k tCO₂ 0.500 tCO₂/MWh
SA 1.9k tCO₂ 0.036 tCO₂/MWh
VIC 90.1k tCO₂ 0.552 tCO₂/MWh
TAS 0 tCO₂ 0.000 tCO₂/MWh