Australian Electricity Market Wrap

Mon 27 Jul 2026 - Fri 31 Jul 2026

Calendar Year Price as at Fri 31 Jul 2026

NSW VIC QLD SA
2027 83.43 62.02 73.32 82.83
2028 87.05 72.26 73.27 92.91
2029 98.65 84.77 79.04 97.61

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q3 2026 $73.75 -$2.00 102 3172
VIC Base Q3 2026 $54.65 -$3.35 189 2814
QLD Base Q3 2026 $61.25 -$2.04 141 3183
SA Base Q3 2026 $78.50 -$0.50 9 238
NSW Base Q4 2026 $69.00 -$1.00 178 2194
VIC Base Q4 2026 $36.00 -$1.85 98 2024
QLD Base Q4 2026 $64.00 -$0.75 97 2992
SA Base Q4 2026 $49.25 -$1.85 6 235

Caps Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q3 2026 $3.00 -$1.65 30 1014
VIC Caps Q3 2026 $3.75 -$0.75 78 932
QLD Caps Q3 2026 $1.55 -$0.55 131 925
SA Caps Q3 2026 $11.00 -$1.00 1 139
NSW Caps Q4 2026 $6.10 -$0.70 105 798
VIC Caps Q4 2026 $3.50 -$0.50 9 832
QLD Caps Q4 2026 $4.05 -$0.70 84 843
SA Caps Q4 2026 $12.50 -$1.00 - 129

Options Volatility

Contract Call ATM($) Put
Volatility Open Interest Volatility Open Interest
NSW Q3 2026 47.70% 0 $74.00 0.30% 0
VIC Q3 2026 27.74% 0 $55.00 0.37% 605
QLD Q3 2026 30.00% 0 $61.00 0.30% 0
SA Q3 2026 30.00% 0 $79.00 0.30% 0
NSW FY 2028 13.00% 0 $84.00 13.00% 0
VIC FY 2028 29.02% 0 $64.00 15.02% 0
QLD FY 2028 13.52% 0 $73.00 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 31 Jul 2026

NSW VIC QLD SA
Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Jul 2026 - 2 - - 5 - - 0 - - 0 -
Aug 2026 - 0 - - 0 - - 0 - - 0 -
Sep 2026 - 0 - - 0 - - 5 - - 0 -
Oct 2026 - 0 - - 0 - - 0 - - 0 -
Nov 2026 - 0 - - 0 - - 0 - - 0 -
Dec 2026 - 0 - - 0 - - 0 - - 0 -
Q3 2026 2 3,172 1,014 3 2,814 932 0 3,183 925 1 238 139
Q4 2026 2 2,194 798 0 2,024 832 5 2,992 843 1 235 129
Q1 2027 0 2,548 566 0 1,723 776 1 3,072 1,019 1 186 148
Q2 2027 5 2,140 527 0 1,749 328 1 2,742 721 1 176 90
Q3 2027 5 1,578 307 0 950 264 1 2,173 639 0 186 57
Q4 2027 0 1,652 315 0 966 342 1 2,202 503 0 224 110
Q1 2028 0 1,219 205 0 592 460 0 1,724 651 0 308 52
Q2 2028 0 1,140 196 0 622 316 0 1,702 612 0 303 52
Q3 2028 0 835 137 0 524 175 0 1,111 471 0 205 82
Q4 2028 0 875 131 0 407 170 0 1,097 464 0 202 121
Q1 2029 0 509 28 0 457 103 0 534 292 0 168 61
Q2 2029 0 517 15 0 487 93 0 545 176 0 162 61
Q3 2029 0 292 25 0 331 94 0 239 93 0 140 76
Q4 2029 0 315 17 0 336 93 0 239 94 0 151 54
Q1 2030 0 55 5 0 118 12 0 6 9 0 85 42
Q2 2030 0 50 0 0 125 11 0 6 9 0 50 57
Total 42 19,093 4,286 9 14,230 5,001 27 23,572 7,521 12 3,019 1,331

Options Open Interest as at COB Fri 31 Jul 2026

NSW VIC QLD SA
Sep 2026 9,930 6,390 4,665 10
Dec 2026 5,243 3,302 4,213 107
Mar 2027 4,609 2,520 3,310 0
Jun 2027 0 400 0 0
Sep 2027 0 0 0 0
Dec 2027 0 0 0 0
Cal 2027 4,356 2,030 4,950 0
Fin 2028 2,766 1,515 3,851 0
Cal 2028 2,346 750 3,365 0
Fin 2029 1,525 1,045 1,430 0
Cal 2029 720 750 1,500 0
Fin 2030 0 0 0 0
Total 31,495 18,702 27,284 117

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
Aug 2024 30,180 1,371.82
Sep 2024 22,670 1,079.52
Oct 2024 25,415 1,105.00
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