DERIVED MARKET INDICATOR
Negative-price market conditions
Oct 2025 – Sept 2026 · five-minute TRADE prices · fixed AEST
Negative prices: monthly time below zero
Each region is separate. This is a time share, not an energy-weighted NEM total.
Energy Data Hub · Source: AEMO TRADE; calculations by Energy Data Hub · 2025-10 – 2026-09
New South Wales (NSW1)Queensland (QLD1)Victoria (VIC1)South Australia (SA1)Tasmania (TAS1)
Sept 2026 at a glance
| Region | Time below zero | Negative hours | Valid intervals | Coverage |
|---|---|---|---|---|
| New South Wales | 10.36% | 74.6 | 8,640 | 100% |
| Queensland | 16.64% | 119.8 | 8,640 | 100% |
| Victoria | 23.52% | 169.3 | 8,640 | 100% |
| South Australia | 30.13% | 216.9 | 8,640 | 100% |
| Tasmania | 21.12% | 152.1 | 8,640 | 100% |
All 12 months
| Month | NSW1 | QLD1 | VIC1 | SA1 | TAS1 |
|---|---|---|---|---|---|
| Oct 2025 | 24.28% | 30.58% | 38.88% | 43.47% | 12.82% |
| Nov 2025 | 29.53% | 28.56% | 44.32% | 47.96% | 2.89% |
| Dec 2025 | 21.11% | 24.88% | 38.90% | 47.16% | 3.34% |
| Jan 2026 | 7.78% | 8.20% | 28.62% | 33.02% | 0.41% |
| Feb 2026 | 3.77% | 6.58% | 20.10% | 27.68% | 0.04% |
| Mar 2026 | 4.70% | 8.50% | 25.44% | 28.89% | 0.11% |
| Apr 2026 | 6.55% | 13.55% | 32.23% | 30.12% | 0.13% |
| May 2026 | 1.34% | 6.19% | 15.14% | 12.80% | 0.00% |
| June 2026 | 0.35% | 2.27% | 16.34% | 19.41% | 0.44% |
| July 2026 | 1.44% | 7.46% | 14.55% | 19.09% | 7.84% |
| Aug 2026 | 2.30% | 11.51% | 10.72% | 13.81% | 7.71% |
| Sept 2026 | 10.36% | 16.64% | 23.52% | 30.13% | 21.12% |
Differences describe observed regional prices; they do not establish causes or project profitability.