Sign up for weekly Market Wrap emails

Australian Electricity Market Wrap

Tue 27 Jan 2026 - Fri 30 Jan 2026

Calendar Year Price as at Fri 30 Jan 2026

NSW VIC QLD SA
2027 95.55 71.64 81.26 84.59
2028 94.90 74.56 80.06 89.50
2029 98.13 80.00 80.28 93.53

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q1 2026 $71.50 -$1.25 225 2176
VIC Base Q1 2026 $42.97 -$0.44 243 1969
QLD Base Q1 2026 $70.75 -$1.25 245 3176
SA Base Q1 2026 $90.00 - - 138
NSW Base Q2 2026 $107.90 -$3.15 303 2009
VIC Base Q2 2026 $90.25 -$1.65 185 1980
QLD Base Q2 2026 $80.15 -$2.60 127 2516
SA Base Q2 2026 $105.50 -$2.50 2 96

Cap Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q1 2026 $12.50 -$2.60 134 1330
VIC Caps Q1 2026 $6.50 -$3.54 235 1413
QLD Caps Q1 2026 $7.75 -$2.25 153 947
SA Caps Q1 2026 $52.00 -$4.50 6 147
NSW Caps Q2 2026 $21.70 -$1.30 74 1115
VIC Caps Q2 2026 $14.90 -$0.10 22 757
QLD Caps Q2 2026 $10.10 -$1.05 16 686
SA Caps Q2 2026 $22.00 - - 86

Options Volatility

Contract Call Put
Volatility Open Interest ATM($) Volatility Open Interest
NSW Q1 2026 47.70% 0 $72.00 30.00% 0
VIC Q1 2026 27.74% 0 $43.00 30.00% 0
QLD Q1 2026 30.00% 0 $71.00 46.88% 0
SA Q1 2026 30.00% 0 $90.00 46.96% 10
NSW FY 2027 13.00% 0 $97.00 13.00% 0
VIC FY 2027 24.06% 25 $72.00 17.82% 0
QLD FY 2027 13.52% 0 $81.00 13.59% 0
SA FY 2027 30.00% 0 $84.00 30.00% 0
NSW CY 2027 13.00% 0 $96.00 13.00% 0
VIC CY 2027 28.75% 25 $72.00 23.11% 25
QLD CY 2027 13.52% 0 $81.00 13.59% 0
SA CY 2027 30.00% 0 $85.00 30.00% 0

Futures and Caps Open Interest as at COB Fri 30 Jan 2026

  NSW VIC QLD SA
  Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
Feb 2026 - 0 - - 0 - - 0 - - 0 -
Mar 2026 - 0 - - 20 - - 0 - - 0 -
Apr 2026 - 0 - - 0 - - 0 - - 0 -
May 2026 - 0 - - 0 - - 0 - - 0 -
Jun 2026 - 0 - - 0 - - 0 - - 0 -
Q12026 2 2,176 1,330 0 1,969 1,413 0 3,176 947 0 138 147
Q22026 2 2,009 1,115 0 1,980 757 0 2,516 686 0 96 86
Q32026 2 1,750 618 0 1,479 655 0 2,227 657 0 121 103
Q42026 2 1,564 576 0 1,282 647 0 2,024 545 0 146 92
Q12027 0 1,334 391 0 1,086 457 0 2,002 666 0 128 90
Q22027 0 1,297 378 0 1,051 209 0 1,861 443 0 98 55
Q32027 0 871 229 0 705 94 0 1,380 404 0 71 36
Q42027 0 850 227 0 615 159 0 1,347 400 0 71 38
Q12028 0 649 183 0 398 228 0 899 493 0 73 31
Q22028 0 605 177 0 306 125 0 822 488 0 64 31
Q32028 0 380 124 0 164 66 0 517 367 0 43 29
Q42028 0 427 121 0 193 59 0 510 371 0 43 29
Q12029 0 153 12 0 63 3 0 186 85 0 0 0
Q22029 0 161 4 0 65 0 0 198 64 0 0 0
Q32029 0 33 3 0 10 0 0 42 53 0 0 0
Q42029 0 22 3 0 10 0 0 39 54 0 0 0
Total 8 14,281 5,491 0 11,396 4,872 0 19,746 6,723 0 1,092 767

Options Open Interest As at COB Fri 30 Jan 2026

  NSW VIC QLD SA
Mar 2026 4,498 3,365 6,701 114
Jun 2026 3,640 2,710 1,520 0
Sep 2026 1,425 550 475 0
Dec 2026 0 100 0 0
Mar 2027 0 0 0 0
Jun 2027 0 0 0 0
Fin 2027 2,100 2,505 4,664 0
Cal 2027 1,362 1,295 2,660 0
Fin 2028 1,205 800 2,100 0
Cal 2028 1,170 675 1,640 0
Fin 2029 0 100 575 0
Cal 2029 0 0 100 0
Total 15,400 12,100 20,435 114

Historical Trade Volumes

YearTotal VolumeAverage Daily Volume
FY 2025-2026292,9421,952.95
FY 2024-2025422,3831,662.93
FY 2023-2024519,9172,063.16
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
Apr 202431,0351,551.75
Mar 202429,7181,485.90
Feb 202448,0122,286.29

Disclaimer - Terms of Use - Privacy Statement