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Australian Electricity Market Wrap

Mon 9 Mar 2026 - Fri 13 Mar 2026

Calendar Year Price as at Fri 13 Mar 2026

NSW VIC QLD SA
2027 105.26 75.80 85.17 87.00
2028 101.00 78.02 82.80 88.80
2029 100.00 82.27 81.20 92.50

Base Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Base Q1 2026 $75.18 -$1.82 96 2393
VIC Base Q1 2026 $40.00 -$3.50 32 2061
QLD Base Q1 2026 $67.00 -$1.00 36 3334
SA Base Q1 2026 $90.25 -$0.50 - 139
NSW Base Q2 2026 $121.50 -$12.00 392 2216
VIC Base Q2 2026 $96.50 -$8.96 322 2073
QLD Base Q2 2026 $86.02 -$7.29 272 2714
SA Base Q2 2026 $112.50 - 10 108

Cap Quarters

Contract Week Close Net Change Traded Volume Open Interest
NSW Caps Q1 2026 $11.49 -$1.31 125 1579
VIC Caps Q1 2026 $2.50 -$0.25 7 1461
QLD Caps Q1 2026 $4.00 $0.15 77 1029
SA Caps Q1 2026 $41.50 -$3.00 - 147
NSW Caps Q2 2026 $25.50 -$4.00 70 1197
VIC Caps Q2 2026 $16.30 -$1.70 83 789
QLD Caps Q2 2026 $10.50 -$2.75 29 779
SA Caps Q2 2026 $24.00 - 8 100

Options Volatility

Contract Call Put
Volatility Open Interest ATM($) Volatility Open Interest
NSW Q1 2026 40.28% 125 $75.00 60.41% 100
VIC Q1 2026 27.74% 0 $40.00 28.22% 250
QLD Q1 2026 30.00% 0 $67.00 46.88% 0
SA Q1 2026 30.00% 0 $90.00 46.96% 10
NSW FY 2027 28.20% 150 $110.00 23.74% 50
VIC FY 2027 32.99% 0 $78.00 15.02% 0
QLD FY 2027 23.23% 25 $88.00 13.59% 0
SA FY 2027 30.00% 0 $89.00 30.00% 0
NSW CY 2027 27.55% 289 $105.00 21.23% 50
VIC CY 2027 32.99% 0 $76.00 15.02% 0
QLD CY 2027 13.52% 0 $85.00 17.75% 160
SA CY 2027 30.00% 0 $87.00 30.00% 0

Futures and Caps Open Interest as at COB Fri 13 Mar 2026

  NSW VIC QLD SA
  Peak Base Caps Peak Base Caps Peak Base Caps Peak Base Caps
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 2,393 1,579 0 2,061 1,461 0 3,334 1,029 0 139 147
Q22026 2 2,216 1,197 0 2,073 789 0 2,714 779 0 108 100
Q32026 2 1,861 637 0 1,647 698 0 2,482 722 0 151 140
Q42026 2 1,677 589 0 1,356 678 0 2,251 616 0 176 122
Q12027 0 1,584 466 0 1,090 538 0 2,316 753 0 137 127
Q22027 0 1,646 426 0 1,050 266 0 2,163 565 0 98 83
Q32027 0 1,066 233 0 782 107 0 1,605 452 0 71 36
Q42027 0 1,128 235 0 694 155 0 1,646 424 0 71 38
Q12028 0 761 187 0 409 243 0 1,166 542 0 76 31
Q22028 0 709 178 0 358 125 0 1,193 519 0 67 31
Q32028 0 479 124 0 211 66 0 771 395 0 46 29
Q42028 0 518 121 0 246 59 0 773 383 0 46 29
Q12029 0 279 19 0 168 36 0 284 117 0 0 0
Q22029 0 285 4 0 163 27 0 294 97 0 0 0
Q32029 0 120 3 0 58 25 0 95 85 0 0 0
Q42029 0 132 6 0 82 25 0 92 86 0 0 0
Total 8 16,854 6,004 0 12,468 5,298 0 23,179 7,564 0 1,186 913

Options Open Interest As at COB Fri 13 Mar 2026

  NSW VIC QLD SA
Mar 2026 5,806 3,527 7,276 114
Jun 2026 5,615 4,095 2,695 10
Sep 2026 2,480 860 850 0
Dec 2026 0 100 150 0
Mar 2027 0 0 0 0
Jun 2027 0 0 0 0
Fin 2027 2,377 2,630 5,044 0
Cal 2027 2,305 1,535 3,955 0
Fin 2028 1,511 975 2,800 0
Cal 2028 1,384 800 2,565 0
Fin 2029 500 295 800 0
Cal 2029 300 150 350 0
Total 22,278 14,967 26,485 124

Historical Trade Volumes

YearTotal VolumeAverage Daily Volume
FY 2025-2026391,3242,174.02
FY 2024-2025422,3831,662.93
FY 2023-2024519,9172,063.16
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
Apr 202431,0351,551.75

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