Australian Electricity Market Wrap

Mon 7 Sep 2026 - Fri 11 Sep 2026

Calendar Year Price as at Fri 11 Sep 2026

NSW VIC QLD SA
2027 85.51 63.30 75.23 78.40
2028 87.94 74.18 77.25 91.93
2029 96.14 84.47 81.75 102.22

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q3 2026 $72.75 $0.50 64 3350
VIC Base Q3 2026 $56.90 -$0.10 76 2969
QLD Base Q3 2026 $60.00 $0.25 66 3366
SA Base Q3 2026 $71.25 -$0.75 15 260
NSW Base Q4 2026 $75.11 $1.11 281 2811
VIC Base Q4 2026 $39.78 $1.08 125 2149
QLD Base Q4 2026 $67.04 -$0.21 128 3193
SA Base Q4 2026 $48.00 -$0.85 5 246

Caps Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q3 2026 $0.71 -$0.54 23 961
VIC Caps Q3 2026 $2.50 - - 939
QLD Caps Q3 2026 $0.40 -$0.44 12 984
SA Caps Q3 2026 $5.00 -$0.50 - 140
NSW Caps Q4 2026 $8.00 $0.30 32 1023
VIC Caps Q4 2026 $4.75 $0.25 56 978
QLD Caps Q4 2026 $5.50 $0.45 19 990
SA Caps Q4 2026 $10.25 -$0.50 4 133

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 0.23% 430
SA Q3 2026 30.00% 0 $71.00 0.30% 0
NSW FY 2028 21.89% 25 $85.00 18.06% 175
VIC FY 2028 21.10% 125 $65.00 18.99% 240
QLD FY 2028 13.52% 0 $75.00 16.66% 425
SA FY 2028 30.00% 0 $83.00 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 11 Sep 2026

NSW VIC QLD SA
Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Sep 2026 - 0 - - 0 - - 5 - - 0 -
Oct 2026 - 0 - - 2 - - 0 - - 0 -
Nov 2026 - 15 - - 2 - - 0 - - 0 -
Dec 2026 - 0 - - 0 - - 0 - - 0 -
Q3 2026 2 3,350 961 3 2,969 939 0 3,366 984 1 260 140
Q4 2026 2 2,811 1,023 0 2,149 978 5 3,193 990 1 246 133
Q1 2027 0 2,537 675 0 2,061 981 1 3,399 1,134 1 193 148
Q2 2027 5 2,207 518 0 1,876 390 1 2,602 729 1 177 92
Q3 2027 5 1,697 379 0 1,027 343 1 2,268 664 0 205 83
Q4 2027 0 1,735 364 0 1,090 455 1 2,346 505 0 244 142
Q1 2028 0 1,337 244 0 754 541 1 1,880 687 0 339 104
Q2 2028 0 1,245 232 0 760 357 1 1,894 629 0 327 98
Q3 2028 0 912 194 0 572 200 0 1,318 512 0 212 107
Q4 2028 0 937 187 0 428 197 0 1,323 502 0 210 147
Q1 2029 0 511 115 0 530 168 0 732 368 0 172 93
Q2 2029 0 513 105 0 526 156 0 707 231 0 162 92
Q3 2029 0 375 30 0 369 112 0 357 169 0 141 122
Q4 2029 0 397 22 0 402 111 0 358 170 0 173 101
Q1 2030 0 70 5 0 167 17 0 46 69 0 96 62
Q2 2030 0 64 0 0 169 16 0 46 69 0 50 79
Total 42 20,713 5,054 9 15,853 5,961 33 25,840 8,412 12 3,207 1,743

Options Open Interest as at COB Fri 11 Sep 2026

NSW VIC QLD SA
Sep 2026 10,105 6,490 4,846 10
Dec 2026 7,942 3,932 4,874 112
Mar 2027 5,778 4,082 5,227 0
Jun 2027 475 1,500 350 0
Sep 2027 300 700 0 0
Dec 2027 150 550 0 0
Cal 2027 4,921 2,030 5,201 0
Fin 2028 2,791 1,815 3,976 0
Cal 2028 2,608 925 3,657 0
Fin 2029 1,656 1,170 1,700 0
Cal 2029 1,670 1,125 1,760 0
Fin 2030 600 500 300 0
Total 38,996 24,819 31,891 122

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
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
Aug 2026 64,846 3,087.90