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Australian Electricity Market Wrap

Mon 13 Apr 2026 - Fri 17 Apr 2026

Calendar Year Price as at Fri 17 Apr 2026

NSW VIC QLD SA
2027 99.70 74.81 84.44 88.00
2028 98.40 76.66 81.47 92.18
2029 100.00 81.50 80.25 93.50

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q2 2026 $101.90 -$2.85 190 2545
VIC Base Q2 2026 $80.09 $3.99 142 2396
QLD Base Q2 2026 $79.75 $1.25 115 2924
SA Base Q2 2026 $101.00 - - 135
NSW Base Q3 2026 $104.00 -$4.08 235 2233
VIC Base Q3 2026 $85.75 -$0.45 139 1964
QLD Base Q3 2026 $83.00 $0.50 149 2832
SA Base Q3 2026 $102.51 $0.19 3 159

Cap Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q2 2026 $16.75 -$0.50 88 1286
VIC Caps Q2 2026 $9.75 -$0.05 22 845
QLD Caps Q2 2026 $7.00 -$0.01 21 825
SA Caps Q2 2026 $18.00 -$1.00 - 103
NSW Caps Q3 2026 $18.00 -$1.25 26 621
VIC Caps Q3 2026 $11.30 -$1.25 10 786
QLD Caps Q3 2026 $10.00 -$0.29 1 729
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 $102.00 30.00% 0
VIC Q2 2026 68.78% 25 $80.00 62.44% 365
QLD Q2 2026 63.54% 150 $80.00 59.70% 125
SA Q2 2026 30.00% 0 $101.00 30.00% 0
NSW FY 2027 13.00% 0 $101.00 13.00% 0
VIC FY 2027 27.44% 180 $75.00 25.82% 180
QLD FY 2027 32.43% 75 $85.00 35.80% 340
SA FY 2027 30.00% 0 $88.00 30.00% 0
NSW CY 2027 13.00% 0 $100.00 23.41% 125
VIC CY 2027 20.00% 30 $75.00 21.96% 125
QLD CY 2027 13.52% 0 $84.00 13.59% 0
SA CY 2027 30.00% 0 $88.00 30.00% 0

Futures and Caps Open Interest as at COB Fri 17 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 2,548 1,286 0 2,409 845 0 2,926 825 0 135 103
Q32026 2 2,232 621 0 1,962 786 0 2,834 729 0 159 133
Q42026 2 1,840 599 0 1,527 765 0 2,453 642 0 181 124
Q12027 0 1,808 480 0 1,188 522 0 2,595 771 0 136 135
Q22027 0 1,822 456 0 1,169 356 0 2,463 662 0 99 84
Q32027 0 1,208 242 0 812 169 0 1,820 550 0 71 36
Q42027 0 1,263 240 0 784 202 0 1,839 416 0 71 38
Q12028 0 841 190 0 413 287 0 1,422 561 0 77 31
Q22028 0 796 185 0 425 172 0 1,441 526 0 67 31
Q32028 0 503 124 0 223 71 0 908 402 0 48 29
Q42028 0 553 120 0 236 64 0 910 390 0 48 29
Q12029 0 297 20 0 168 36 0 317 120 0 1 0
Q22029 0 296 4 0 163 27 0 327 99 0 1 0
Q32029 0 136 3 0 62 25 0 103 87 0 1 0
Q42029 0 148 6 0 89 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 16,291 4,576 0 11,630 4,352 0 22,458 6,868 0 1,096 773

Options Open Interest As at COB Fri 17 Apr 2026

  NSW VIC QLD SA
Jun 2026 6,196 4,819 3,582 10
Sep 2026 2,926 1,310 1,175 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 2,705 2,515 4,974 0
Cal 2027 3,419 1,810 4,619 0
Fin 2028 1,839 975 2,975 0
Cal 2028 1,606 825 2,715 0
Fin 2029 570 295 800 0
Cal 2029 300 150 350 0
Total 19,561 12,949 21,465 10

Historical Trade Volumes

YearTotal VolumeAverage Daily Volume
FY 2025-2026450,6112,219.76
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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