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Australian Electricity Market Wrap

Tue 7 Apr 2026 - Fri 10 Apr 2026

Calendar Year Price as at Fri 10 Apr 2026

NSW VIC QLD SA
2027 102.67 75.11 85.75 87.69
2028 101.40 77.63 82.42 92.18
2029 101.90 82.20 81.32 93.50

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q2 2026 $106.00 -$3.00 243 2461
VIC Base Q2 2026 $77.84 -$6.06 198 2341
QLD Base Q2 2026 $77.90 $0.25 96 2924
SA Base Q2 2026 $102.50 -$5.00 2 135
NSW Base Q3 2026 $107.50 -$6.45 360 2210
VIC Base Q3 2026 $85.45 -$3.55 217 1909
QLD Base Q3 2026 $82.00 -$4.05 187 2799
SA Base Q3 2026 $102.32 -$5.76 - 157

Cap Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q2 2026 $18.25 -$0.88 28 1236
VIC Caps Q2 2026 $10.80 -$1.05 75 815
QLD Caps Q2 2026 $7.00 -$0.15 31 815
SA Caps Q2 2026 $19.50 -$2.50 - 103
NSW Caps Q3 2026 $20.00 -$1.25 4 620
VIC Caps Q3 2026 $12.75 -$0.45 49 780
QLD Caps Q3 2026 $10.29 -$0.52 - 729
SA Caps Q3 2026 $24.00 - - 133

Options Volatility

Contract Call Put
Volatility Open Interest ATM($) Volatility Open Interest
NSW Q2 2026 47.70% 0 $106.00 30.00% 0
VIC Q2 2026 27.74% 0 $78.00 30.00% 0
QLD Q2 2026 30.00% 0 $78.00 30.00% 0
SA Q2 2026 30.00% 0 $103.00 30.00% 0
NSW FY 2027 13.00% 0 $104.00 13.00% 0
VIC FY 2027 27.44% 180 $75.00 25.82% 180
QLD FY 2027 13.52% 0 $86.00 13.59% 0
SA FY 2027 30.00% 0 $88.00 30.00% 0
NSW CY 2027 20.49% 75 $103.00 24.72% 100
VIC CY 2027 20.00% 30 $75.00 21.96% 125
QLD CY 2027 13.52% 0 $86.00 13.59% 0
SA CY 2027 30.00% 0 $88.00 30.00% 0

Futures and Caps Open Interest as at COB Fri 10 Apr 2026

  NSW VIC QLD SA
  Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Apr 2026 - 0 - - 0 - - 0 - - 0 -
May 2026 - 0 - - 0 - - 0 - - 0 -
Jun 2026 - 0 - - 0 - - 0 - - 0 -
Jul 2026 - 0 - - 0 - - 0 - - 0 -
Aug 2026 - 0 - - 0 - - 0 - - 0 -
Sep 2026 - 0 - - 0 - - 0 - - 0 -
Q22026 2 2,494 1,236 0 2,365 839 0 2,930 818 0 135 103
Q32026 2 2,207 620 0 1,922 780 0 2,804 729 0 157 133
Q42026 2 1,807 599 0 1,526 753 0 2,450 639 0 180 124
Q12027 0 1,750 467 0 1,183 496 0 2,592 767 0 137 130
Q22027 0 1,795 458 0 1,148 355 0 2,457 658 0 99 84
Q32027 0 1,170 235 0 813 154 0 1,820 547 0 71 36
Q42027 0 1,224 237 0 809 164 0 1,843 413 0 71 38
Q12028 0 827 189 0 414 248 0 1,404 560 0 76 31
Q22028 0 785 180 0 428 133 0 1,423 526 0 67 31
Q32028 0 491 124 0 220 66 0 907 402 0 48 29
Q42028 0 543 120 0 233 59 0 910 390 0 48 29
Q12029 0 295 20 0 166 36 0 317 120 0 1 0
Q22029 0 294 4 0 161 27 0 327 99 0 1 0
Q32029 0 136 3 0 61 25 0 103 87 0 1 0
Q42029 0 148 6 0 88 25 0 100 88 0 1 0
Q12030 0 0 0 0 0 0 0 0 0 0 0 0
Q22030 0 0 0 0 0 0 0 0 0 0 0 0
Total 6 15,966 4,498 0 11,537 4,160 0 22,387 6,843 0 1,093 768

Options Open Interest As at COB Fri 10 Apr 2026

  NSW VIC QLD SA
Jun 2026 5,946 4,772 2,957 10
Sep 2026 2,876 1,160 1,050 0
Dec 2026 0 250 275 0
Mar 2027 0 0 0 0
Jun 2027 0 0 0 0
Sep 2027 0 0 0 0
Fin 2027 2,697 2,515 4,974 0
Cal 2027 3,180 1,810 4,492 0
Fin 2028 1,714 975 2,850 0
Cal 2028 1,428 825 2,715 0
Fin 2029 500 295 800 0
Cal 2029 300 150 350 0
Total 18,641 12,752 20,463 10

Historical Trade Volumes

YearTotal VolumeAverage Daily Volume
FY 2025-2026440,0122,222.28
FY 2024-2025422,3831,662.93
FY 2023-2024519,9172,063.16
Mar 202675,9713,453.23
Feb 202658,9832,949.15
Jan 202664,8843,244.20
Dec 202539,2241,867.81
Nov 202540,0512,002.55
Oct 202542,3261,840.26
Sep 202536,7501,670.45
Aug 202533,4731,593.95
Jul 202536,2341,575.39
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

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