Sign up for weekly Market Wrap emails

Australian Electricity Market Wrap

Mon 8 Sep 2025 - Fri 12 Sep 2025

Calendar Year Price as at Fri 12 Sep 2025

NSW VIC QLD SA
2026 117.62 78.64 101.97 95.17
2027 114.33 74.99 96.10 93.87
2028 115.17 79.07 92.76 95.45

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q3 2025 $94.50 -$4.00 69 2109
VIC Base Q3 2025 $78.35 -$2.95 89 1761
QLD Base Q3 2025 $73.90 -$2.80 26 2924
SA Base Q3 2025 $108.00 -$1.00 - 69
NSW Base Q4 2025 $112.33 -$2.42 111 1765
VIC Base Q4 2025 $55.50 -$1.00 108 1537
QLD Base Q4 2025 $96.47 -$2.53 161 2538
SA Base Q4 2025 $60.25 - - 71

Cap Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q3 2025 $4.00 -$2.50 32 1001
VIC Caps Q3 2025 $2.50 -$2.00 51 868
QLD Caps Q3 2025 $1.95 -$0.60 22 658
SA Caps Q3 2025 $27.50 -$0.50 - 196
NSW Caps Q4 2025 $28.00 -$1.00 96 881
VIC Caps Q4 2025 $9.60 -$0.15 68 856
QLD Caps Q4 2025 $20.00 -$0.25 87 668
SA Caps Q4 2025 $18.40 $1.90 31 114

Options Volatility

Contract Call Put
Volatility Open Interest ATM($) Volatility Open Interest
NSW Q3 2025 49.33% 50 $95.00 37.63% 576
VIC Q3 2025 27.74% 0 $78.00 30.00% 0
QLD Q3 2025 30.00% 0 $74.00 30.00% 0
SA Q3 2025 30.00% 0 $108.00 30.00% 0
NSW FY 2027 20.05% 25 $115.00 20.40% 75
VIC FY 2027 32.99% 0 $76.00 15.02% 0
QLD FY 2027 20.48% 60 $98.00 13.59% 0
SA FY 2027 30.00% 0 $95.00 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 12 Sep 2025

  NSW VIC QLD SA
  Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Sep 2025 - 97 - - 6 - - 2 - - 0 -
Oct 2025 - 77 - - 0 - - 0 - - 0 -
Nov 2025 - 5 - - 0 - - 0 - - 0 -
Dec 2025 - 0 - - 0 - - 21 - - 0 -
Q32025 9 2,109 1,001 4 1,761 868 0 2,924 658 0 69 196
Q42025 6 1,765 881 0 1,537 856 0 2,538 668 0 71 114
Q12026 2 1,428 978 0 1,368 1,076 0 2,112 727 0 125 123
Q22026 2 1,645 855 0 1,352 767 0 1,776 556 0 72 95
Q32026 2 1,181 472 0 901 551 0 1,528 462 0 113 76
Q42026 2 1,238 370 0 1,003 433 0 1,465 425 0 122 60
Q12027 0 931 223 0 720 167 0 1,135 446 0 127 68
Q22027 0 1,014 221 0 591 154 0 1,151 363 0 97 43
Q32027 0 529 158 0 561 84 0 742 335 0 69 31
Q42027 0 536 158 0 501 89 0 782 332 0 69 34
Q12028 0 364 125 0 160 101 0 510 248 0 67 29
Q22028 0 340 125 0 141 101 0 473 244 0 64 29
Q32028 0 176 105 0 85 64 0 325 207 0 40 29
Q42028 0 196 105 0 120 59 0 330 205 0 40 29
Q12029 0 47 7 0 30 0 0 34 1 0 0 0
Q22029 0 51 0 0 30 0 0 37 0 0 0 0
Total 23 13,729 5,784 4 10,867 5,370 0 17,885 5,877 0 1,145 956

Options Open Interest As at COB Fri 12 Sep 2025

  NSW VIC QLD SA
Sep 2025 5,574 3,060 3,205 31
Dec 2025 3,438 1,205 1,977 4
Mar 2026 1,450 1,345 1,675 20
Jun 2026 225 0 0 0
Sep 2026 0 250 0 0
Dec 2026 0 0 0 0
Cal 2026 2,818 2,795 4,704 0
Fin 2027 1,693 2,280 3,491 0
Cal 2027 466 1,040 1,686 0
Fin 2028 275 225 850 0
Cal 2028 0 300 500 0
Fin 2029 0 0 100 0
Total 15,939 12,500 18,188 55

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
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
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

Disclaimer - Terms of Use - Privacy Statement