Australian Electricity Market Wrap

Mon 17 Aug 2026 - Fri 21 Aug 2026

Calendar Year Price as at Fri 21 Aug 2026

NSW VIC QLD SA
2027 84.39 62.50 74.91 80.27
2028 85.81 71.39 74.63 91.79
2029 96.00 82.35 79.38 99.38

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q3 2026 $72.75 -$1.75 114 3254
VIC Base Q3 2026 $56.50 $0.25 107 2957
QLD Base Q3 2026 $60.40 -$1.60 115 3307
SA Base Q3 2026 $70.76 $0.01 8 255
NSW Base Q4 2026 $72.12 -$1.05 204 2477
VIC Base Q4 2026 $37.85 $1.05 83 2075
QLD Base Q4 2026 $64.42 -$0.83 138 3142
SA Base Q4 2026 $49.50 - - 238

Caps Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q3 2026 $1.63 -$0.70 70 996
VIC Caps Q3 2026 $3.15 -$0.10 72 936
QLD Caps Q3 2026 $1.30 $0.10 30 979
SA Caps Q3 2026 $7.00 -$1.00 4 140
NSW Caps Q4 2026 $7.20 -$0.30 19 927
VIC Caps Q4 2026 $4.70 $0.91 64 897
QLD Caps Q4 2026 $5.15 $0.15 59 933
SA Caps Q4 2026 $11.75 - 2 129

Options Volatility

Contract Call ATM($) Put
Volatility Open Interest Volatility Open Interest
NSW Q3 2026 47.70% 0 $73.00 0.30% 0
VIC Q3 2026 27.74% 0 $57.00 0.30% 0
QLD Q3 2026 30.00% 0 $60.00 0.28% 425
SA Q3 2026 30.00% 0 $71.00 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 $74.00 13.59% 0
SA FY 2028 30.00% 0 $85.00 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 21 Aug 2026

NSW VIC QLD SA
Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Aug 2026 - 0 - - 0 - - 0 - - 0 -
Sep 2026 - 0 - - 0 - - 5 - - 0 -
Oct 2026 - 0 - - 2 - - 0 - - 0 -
Nov 2026 - 0 - - 2 - - 0 - - 0 -
Dec 2026 - 0 - - 0 - - 0 - - 0 -
Q3 2026 2 3,254 996 3 2,957 936 0 3,307 979 1 255 140
Q4 2026 2 2,477 927 0 2,075 897 5 3,142 933 1 238 129
Q1 2027 0 2,549 650 0 1,880 911 1 3,189 1,049 1 187 148
Q2 2027 5 2,168 535 0 1,811 355 1 2,644 723 1 176 92
Q3 2027 5 1,632 335 0 962 287 1 2,241 646 0 201 83
Q4 2027 0 1,681 321 0 980 349 1 2,309 503 0 240 142
Q1 2028 0 1,264 239 0 727 486 0 1,794 679 0 327 93
Q2 2028 0 1,170 226 0 744 307 0 1,815 617 0 321 88
Q3 2028 0 864 187 0 586 159 0 1,196 486 0 211 92
Q4 2028 0 898 181 0 441 155 0 1,197 479 0 208 131
Q1 2029 0 528 58 0 492 118 0 661 327 0 168 67
Q2 2029 0 533 45 0 523 106 0 656 197 0 162 67
Q3 2029 0 318 30 0 351 107 0 337 124 0 141 87
Q4 2029 0 341 22 0 356 106 0 336 125 0 154 65
Q1 2030 0 62 5 0 145 12 0 46 34 0 91 47
Q2 2030 0 57 0 0 148 11 0 46 34 0 50 64
Total 42 19,796 4,757 9 15,182 5,302 27 24,921 7,935 12 3,130 1,535

Options Open Interest as at COB Fri 21 Aug 2026

NSW VIC QLD SA
Sep 2026 10,083 6,494 4,841 10
Dec 2026 6,813 3,647 4,488 107
Mar 2027 5,309 3,580 4,800 0
Jun 2027 250 750 0 0
Sep 2027 50 200 0 0
Dec 2027 0 0 0 0
Cal 2027 4,721 2,030 5,025 0
Fin 2028 2,866 1,765 4,001 0
Cal 2028 2,566 750 3,515 0
Fin 2029 1,656 1,145 1,630 0
Cal 2029 1,645 1,125 1,725 0
Fin 2030 600 500 100 0
Total 36,559 21,986 30,125 117

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
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
Jul 2026 80,043 3,480.13