Australian Electricity Market Wrap

Mon 19 Oct 2026 - Fri 23 Oct 2026

Calendar Year Price as at Fri 23 Oct 2026

NSW VIC QLD SA
2027 109.86 76.54 91.13 86.36
2028 103.75 82.13 85.50 95.69
2029 106.77 91.25 88.50 105.84
2030 109.60 99.45 94.06 113.59

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q4 2026 $151.25 -$0.86 400 3656
VIC Base Q4 2026 $54.50 $2.25 139 2407
QLD Base Q4 2026 $112.44 $11.63 370 3380
SA Base Q4 2026 $51.50 - - 283
NSW Base Q1 2027 $118.50 $9.19 770 2933
VIC Base Q1 2027 $73.55 $2.90 475 2226
QLD Base Q1 2027 $105.10 $7.91 396 3664
SA Base Q1 2027 $87.55 $2.15 1 210

Caps Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q4 2026 $28.25 -$2.25 192 1547
VIC Caps Q4 2026 $6.00 - 26 1190
QLD Caps Q4 2026 $12.00 $1.42 176 1296
SA Caps Q4 2026 $9.90 - - 135
NSW Caps Q1 2027 $25.00 $1.75 103 982
VIC Caps Q1 2027 $19.50 $1.25 71 1186
QLD Caps Q1 2027 $20.03 $2.23 74 1376
SA Caps Q1 2027 $26.50 $0.50 1 175

Options Volatility

Contract Call ATM($) Put
Volatility Open Interest Volatility Open Interest
NSW Q4 2026 0.00% 0 $0.00 0.00% 0
VIC Q4 2026 68.20% 215 $55.00 0.30% 0
QLD Q4 2026 30.00% 0 $112.00 0.30% 0
SA Q4 2026 30.00% 0 $52.00 0.30% 0
NSW FY 2028 13.00% 0 $104.00 13.00% 0
VIC FY 2028 29.02% 0 $76.00 15.02% 0
QLD FY 2028 13.52% 0 $86.00 13.59% 0
SA FY 2028 30.00% 0 $88.00 30.00% 0
NSW CY 2028 0.00% 0 $0.00 0.00% 0
VIC CY 2028 0.00% 0 $0.00 0.00% 0
QLD CY 2028 0.00% 0 $0.00 0.00% 0
SA CY 2028 0.00% 0 $0.00 0.00% 0

Futures and Caps Open Interest as at COB Fri 23 Oct 2026

NSW VIC QLD SA
Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Oct 2026 - 0 - - 2 - - 0 - - 0 -
Nov 2026 - 15 - - 2 - - 0 - - 0 -
Dec 2026 - 0 - - 0 - - 0 - - 0 -
Jan 2027 - 0 - - 0 - - 0 - - 0 -
Feb 2027 - 0 - - 0 - - 0 - - 0 -
Mar 2027 - 0 - - 0 - - 0 - - 0 -
Q4 2026 2 3,656 1,547 0 2,407 1,190 5 3,380 1,296 1 283 135
Q1 2027 0 2,933 982 0 2,226 1,186 1 3,664 1,376 1 210 175
Q2 2027 5 2,597 547 0 1,893 410 1 2,771 771 1 190 148
Q3 2027 5 2,172 445 0 1,108 362 1 2,582 734 0 226 120
Q4 2027 0 2,216 426 0 1,300 680 1 2,652 530 0 266 177
Q1 2028 0 1,596 291 0 815 663 1 2,209 703 0 380 162
Q2 2028 0 1,464 246 0 901 367 1 2,221 654 0 343 128
Q3 2028 0 1,049 208 0 714 204 0 1,576 541 0 213 157
Q4 2028 0 1,085 202 0 594 224 0 1,614 529 0 219 204
Q1 2029 0 744 135 0 681 185 0 932 462 0 204 147
Q2 2029 0 694 112 0 639 162 0 904 294 0 179 143
Q3 2029 0 599 36 0 472 143 0 565 225 0 162 132
Q4 2029 0 622 28 0 500 141 0 559 227 0 206 109
Q1 2030 0 149 15 0 238 35 0 118 90 0 111 66
Q2 2030 0 138 6 0 236 35 0 123 113 0 50 80
Q3 2030 0 26 2 0 10 0 0 0 3 0 0 0
Q4 2030 0 26 2 0 6 0 0 0 3 0 3 0
Total 36 21,781 5,230 0 14,744 5,987 33 25,870 8,551 9 3,245 2,083

Options Open Interest as at COB Fri 23 Oct 2026

NSW VIC QLD SA
Dec 2026 12,143 4,257 6,364 112
Mar 2027 7,834 4,120 6,687 0
Jun 2027 485 1,565 450 0
Sep 2027 300 900 100 0
Dec 2027 150 700 50 0
Mar 2028 0 0 0 0
Cal 2027 5,642 2,085 5,291 0
Fin 2028 3,241 2,170 4,126 0
Cal 2028 2,760 965 4,257 0
Fin 2029 1,906 1,335 1,780 0
Cal 2029 1,645 1,125 2,285 0
Fin 2030 600 595 325 0
Total 36,706 19,817 31,715 112

Historical Trade Volumes

Year Total Volume Average Daily Volume
FY 2023-2024 519,917 2,063.16
FY 2024-2025 422,383 1,662.93
FY 2025-2026 626,098 2,464.95
Nov 2024 43,409 2,067.10
Dec 2024 22,325 1,116.25
Jan 2025 26,056 1,240.76
Feb 2025 41,512 2,075.60
Mar 2025 31,029 1,477.57
Apr 2025 25,442 1,339.05
May 2025 64,523 2,932.86
Jun 2025 57,878 2,756.10
Jul 2025 36,264 1,576.70
Aug 2025 33,473 1,593.95
Sep 2025 36,762 1,671.00
Oct 2025 42,328 1,840.35
Nov 2025 40,054 2,002.70
Dec 2025 39,227 1,867.95
Jan 2026 64,892 3,244.60
Feb 2026 58,983 2,949.15
Mar 2026 75,971 3,453.23
Apr 2026 49,519 2,475.95
May 2026 77,435 3,687.38
Jun 2026 71,190 3,390.00
Jul 2026 80,043 3,480.13
Aug 2026 64,846 3,087.90
Sep 2026 67,048 3,047.64