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Australian Electricity Market Wrap

Mon 1 Jun 2026 - Fri 5 Jun 2026

Calendar Year Price as at Fri 5 Jun 2026

NSW VIC QLD SA
2027 87.42 66.81 75.24 81.00
2028 89.27 75.05 76.56 88.06
2029 93.79 82.00 77.00 89.00

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q2 2026 $82.40 -$2.70 447 2834
VIC Base Q2 2026 $61.25 -$2.55 219 2826
QLD Base Q2 2026 $71.00 -$2.35 152 3121
SA Base Q2 2026 $82.00 -$3.00 - 141
NSW Base Q3 2026 $86.88 -$3.37 238 2606
VIC Base Q3 2026 $66.75 -$4.51 227 2362
QLD Base Q3 2026 $70.75 -$2.75 186 3030
SA Base Q3 2026 $90.00 -$2.50 16 175

Cap Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q2 2026 $5.75 -$1.50 192 1319
VIC Caps Q2 2026 $3.75 -$1.05 73 845
QLD Caps Q2 2026 $2.55 -$0.45 15 953
SA Caps Q2 2026 $11.00 -$1.00 - 98
NSW Caps Q3 2026 $9.50 -$1.00 88 706
VIC Caps Q3 2026 $6.75 -$1.25 73 741
QLD Caps Q3 2026 $4.25 -$0.50 34 790
SA Caps Q3 2026 $16.00 -$1.00 - 134

Options Volatility

Contract Call Put
Volatility Open Interest ATM($) Volatility Open Interest
NSW Q2 2026 47.70% 0 $82.00 30.00% 0
VIC Q2 2026 27.74% 0 $61.00 48.92% 0
QLD Q2 2026 30.00% 0 $71.00 30.00% 0
SA Q2 2026 30.00% 0 $82.00 30.00% 0
NSW FY 2027 0.00% $0.00 0.00%
VIC FY 2027 0.00% $0.00 0.00%
QLD FY 2027 0.00% $0.00 0.00%
SA FY 2027 0.00% $0.00 0.00%
NSW CY 2027 13.00% 0 $87.00 13.00% 0
VIC CY 2027 32.99% 0 $67.00 15.02% 0
QLD CY 2027 13.52% 0 $75.00 18.54% 475
SA CY 2027 30.00% 0 $81.00 30.00% 0

Futures and Caps Open Interest as at COB Fri 5 Jun 2026

  NSW VIC QLD SA
  Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Jun 2026 - 2 - - 30 - - 0 - - 0 -
Jul 2026 - 2 - - 5 - - 0 - - 0 -
Aug 2026 - 0 - - 0 - - 0 - - 0 -
Sep 2026 - 0 - - 0 - - 0 - - 0 -
Q22026 2 2,844 1,326 0 2,840 845 0 3,127 953 0 141 98
Q32026 2 2,627 706 0 2,391 743 0 3,053 790 0 175 134
Q42026 2 1,933 619 0 1,829 835 0 2,788 698 0 196 124
Q12027 0 2,239 511 0 1,596 644 0 2,829 931 0 153 136
Q22027 0 2,090 486 0 1,494 320 0 2,587 695 0 141 88
Q32027 0 1,509 270 0 796 213 0 1,896 604 0 100 38
Q42027 0 1,627 282 0 825 275 0 1,906 477 0 101 40
Q12028 0 1,042 204 0 486 347 0 1,553 629 0 192 35
Q22028 0 994 188 0 396 227 0 1,559 591 0 186 35
Q32028 0 591 126 0 308 150 0 941 421 0 147 31
Q42028 0 639 122 0 320 143 0 933 408 0 120 31
Q12029 0 341 21 0 277 111 0 341 130 0 92 0
Q22029 0 338 3 0 275 96 0 349 105 0 90 0
Q32029 0 149 5 0 124 94 0 124 93 0 114 0
Q42029 0 166 8 0 134 93 0 122 94 0 112 0
Q12030 0 4 0 0 3 5 0 0 5 0 35 0
Q22030 0 4 0 0 3 5 0 0 5 0 35 0
Total 6 19,141 4,877 0 14,132 5,146 0 24,108 7,629 0 2,130 790

Options Open Interest As at COB Fri 5 Jun 2026

  NSW VIC QLD SA
Jun 2026 7,621 6,609 4,092 10
Sep 2026 5,397 3,517 2,560 10
Dec 2026 2,252 1,629 1,825 0
Mar 2027 2,970 1,695 1,900 0
Jun 2027 0 0 0 0
Sep 2027 0 0 0 0
Cal 2027 3,871 1,910 4,709 0
Fin 2028 2,004 1,025 3,426 0
Cal 2028 1,959 800 3,115 0
Fin 2029 595 570 1,005 0
Cal 2029 375 150 450 0
Fin 2030 0 0 0 0
Total 27,044 17,905 23,082 20

Historical Trade Volumes

YearTotal VolumeAverage Daily Volume
FY 2025-2026567,7042,385.31
FY 2024-2025422,3831,662.93
FY 2023-2024519,9172,063.16
May 202677,4353,687.38
Apr 202649,5192,475.95
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

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