New South Wales had the highest average spot price, $77.02/MWh, and Tasmania the lowest, $24.55/MWh.
Across the five regions the average was $51.75/MWh, down 3% on September 2025.
Prices went below zero for 323.4 hours in South Australia, 43% of the month, the most of any region.
The highest 5-minute price was $20,300.00/MWh in New South Wales on 10 October at 17:55.
The lowest was -$698.95/MWh in New South Wales on 10 October at 18:55.
Spot prices by region, October 2025
| Region | Average | Lowest | Highest | Negative hours | Share of month | Intervals over $300 | Over $5,000 |
|---|---|---|---|---|---|---|---|
| Queensland | $55.66 | -$48.0517 October at 10:50 | $1,000.0022 October at 17:30 | 227.5 | 31% | 8 | 0 |
| New South Wales | $77.02 | -$698.9510 October at 18:55 | $20,300.0010 October at 17:55 | 180.7 | 24% | 43 | 2 |
| Victoria | $51.37 | -$110.6217 October at 14:50 | $550.8921 October at 07:00 | 289.3 | 39% | 10 | 0 |
| South Australia | $50.17 | -$306.0726 October at 13:55 | $1,000.0027 October at 07:10 | 323.4 | 43% | 37 | 0 |
| Tasmania | $24.55 | -$58.919 October at 12:55 | $420.8713 October at 17:25 | 95.4 | 13% | 2 | 0 |
FCAS, monthly average prices
| Market | QLD | NSW | VIC | SA | TAS |
|---|---|---|---|---|---|
| Raise regulation | $9.19 | $9.18 | $9.18 | $9.18 | $8.99 |
| Lower regulation | $4.70 | $3.84 | $3.84 | $3.85 | $4.89 |
| Raise 1 second | $0.73 | $0.73 | $0.73 | $0.73 | $0.27 |
| Raise 6 second | $0.45 | $0.36 | $0.36 | $0.36 | $5.51 |
| Raise 60 second | $0.28 | $0.20 | $0.20 | $0.22 | $0.54 |
| Raise 5 minute | $0.14 | $0.12 | $0.12 | $0.13 | $0.29 |
| Lower 1 second | $0.23 | $0.04 | $0.04 | $0.08 | $0.01 |
| Lower 6 second | $12.19 | $0.14 | $0.14 | $0.15 | $6.40 |
| Lower 60 second | $7.05 | $0.68 | $0.68 | $0.70 | $0.93 |
| Lower 5 minute | $1.06 | $0.21 | $0.21 | $0.21 | $0.28 |
Download the figures behind this report: spot prices and negative hours (CSV), FCAS averages (CSV). What this month would have meant for a battery: the BESS revenue calculator.
Data: Australian Energy Market Operator (AEMO), NEMWeb dispatch reports, used under AEMO's Copyright Permissions. Processed by ElectraGlobe. Prices are 5-minute dispatch prices in NEM time and may be revised. Informational only. Not for trading or financial decisions.