Sign up for weekly Market Wrap emails

Australian Electricity Market Wrap

Mon 14 Jul 2025 - Fri 18 Jul 2025

Calendar Year Price as at Fri 18 Jul 2025

NSW VIC QLD SA
2026 119.80 79.70 102.50 95.42
2027 116.26 75.25 96.35 94.33
2028 115.25 75.22 91.49 94.42

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q3 2025 $109.25 -$9.75 315 1986
VIC Base Q3 2025 $88.90 -$7.35 152 1640
QLD Base Q3 2025 $82.30 -$6.45 80 2785
SA Base Q3 2025 $134.00 -$5.00 - 64
NSW Base Q4 2025 $112.55 -$0.20 139 1539
VIC Base Q4 2025 $55.33 $1.83 52 1544
QLD Base Q4 2025 $97.90 $0.40 56 2379
SA Base Q4 2025 $59.23 - - 61

Cap Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q3 2025 $21.00 -$6.25 84 741
VIC Caps Q3 2025 $12.75 -$2.29 71 739
QLD Caps Q3 2025 $9.01 -$2.39 27 580
SA Caps Q3 2025 $39.00 -$3.00 - 184
NSW Caps Q4 2025 $27.25 -$1.25 80 754
VIC Caps Q4 2025 $10.50 $0.25 36 821
QLD Caps Q4 2025 $20.75 -$0.25 76 564
SA Caps Q4 2025 $18.50 - - 106

Options Volatility

Contract Call Put
Volatility Open Interest ATM($) Volatility Open Interest
NSW Q3 2025 47.70% 0 $109.00 30.00% 0
VIC Q3 2025 27.74% 0 $89.00 30.00% 0
QLD Q3 2025 30.00% 0 $82.00 30.00% 0
SA Q3 2025 30.00% 0 $134.00 30.00% 0
NSW FY 2027 13.00% 0 $116.00 13.00% 0
VIC FY 2027 32.99% 0 $77.00 15.02% 25
QLD FY 2027 13.52% 0 $99.00 13.59% 0
SA FY 2027 30.00% 0 $96.00 30.00% 0
NSW CY 2027 0.00% $0.00 0.00%
VIC CY 2027 0.00% $0.00 0.00%
QLD CY 2027 0.00% $0.00 0.00%
SA CY 2027 0.00% $0.00 0.00%

Futures and Caps Open Interest as at COB Fri 18 Jul 2025

  NSW VIC QLD SA
  Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Jul 2025 - 35 - - 5 - - 32 - - 0 -
Aug 2025 - 5 - - 26 - - 0 - - 0 -
Sep 2025 - 60 - - 2 - - 2 - - 0 -
Oct 2025 - 73 - - 0 - - 0 - - 0 -
Nov 2025 - 5 - - 0 - - 0 - - 0 -
Dec 2025 - 0 - - 0 - - 10 - - 0 -
Q32025 9 1,986 741 4 1,640 739 0 2,785 580 0 64 184
Q42025 6 1,539 754 0 1,544 821 0 2,379 564 0 61 106
Q12026 2 1,331 928 0 1,425 917 0 1,876 647 0 117 115
Q22026 2 1,534 735 0 1,383 699 0 1,725 535 0 69 95
Q32026 2 1,024 434 0 854 503 0 1,422 430 0 67 73
Q42026 2 1,032 358 0 841 382 0 1,277 386 0 78 62
Q12027 0 759 226 0 645 75 0 1,117 418 0 75 68
Q22027 0 755 225 0 551 97 0 1,059 376 0 46 43
Q32027 0 396 158 0 448 89 0 696 330 0 39 31
Q42027 0 390 158 0 413 89 0 763 327 0 39 34
Q12028 0 218 122 0 105 96 0 430 224 0 27 29
Q22028 0 194 121 0 75 96 0 449 219 0 24 29
Q32028 0 39 95 0 32 54 0 302 180 0 20 29
Q42028 0 43 95 0 66 54 0 306 180 0 20 29
Q12029 0 2 0 0 4 0 0 9 1 0 0 0
Q22029 0 3 0 0 4 0 0 9 0 0 0 0
Total 23 11,423 5,150 4 10,063 4,711 0 16,648 5,397 0 746 927

Options Open Interest As at COB Fri 18 Jul 2025

  NSW VIC QLD SA
Sep 2025 3,854 2,460 3,115 31
Dec 2025 1,133 675 830 0
Mar 2026 325 450 500 20
Jun 2026 0 0 0 0
Sep 2026 0 50 0 0
Dec 2026 0 0 0 0
Cal 2026 2,668 2,754 4,482 0
Fin 2027 1,176 1,885 2,945 0
Cal 2027 355 740 1,459 0
Fin 2028 100 200 800 0
Cal 2028 0 300 400 0
Fin 2029 0 0 0 0
Total 9,611 9,514 14,531 51

Historical Trade Volumes

YearTotal VolumeAverage Daily Volume
FY 2024-2025422,3831,662.93
FY 2023-2024519,9172,063.16
FY 2022-2023483,9611,912.89
Jun 202557,8782,756.10
May 202564,5232,932.86
Apr 202525,4421,339.05
Mar 202531,0291,477.57
Feb 202541,5122,075.60
Jan 202526,0561,240.76
Dec 202422,3251,116.25
Nov 202443,4092,067.10
Oct 202425,4151,105.00
Sep 202422,6701,079.52
Aug 202430,1801,371.82
Jul 202431,9441,388.87
Jun 202428,0931,478.58
May 202480,7083,509.04
Apr 202431,0351,551.75
Mar 202429,7181,485.90
Feb 202448,0122,286.29
Jan 202442,1462,006.95
Dec 202332,5491,713.11
Nov 202382,9883,772.18
Oct 202345,2112,055.05
Sep 202322,8371,087.48
Aug 202338,0681,655.13

Disclaimer - Terms of Use - Privacy Statement