Tasmania had the highest average spot price, $91.04/MWh, and Victoria the lowest, $44.74/MWh.
Across the five regions the average was $64.31/MWh, down 7% on February 2026.
Prices went below zero for 214.9 hours in South Australia, 29% of the month, the most of any region.
The highest 5-minute price was $1,001.00/MWh in South Australia on 24 March at 01:20.
The lowest was -$969.97/MWh in Victoria on 4 March at 15:55.
Spot prices by region, March 2026
| Region | Average | Lowest | Highest | Negative hours | Share of month | Intervals over $300 | Over $5,000 |
|---|---|---|---|---|---|---|---|
| Queensland | $62.64 | -$33.1528 March at 10:50 | $253.3827 March at 06:10 | 63.3 | 9% | 0 | 0 |
| New South Wales | $70.35 | -$12.9915 March at 11:30 | $189.5919 March at 08:10 | 35.0 | 5% | 0 | 0 |
| Victoria | $44.74 | -$969.974 March at 15:55 | $273.8130 March at 06:55 | 189.3 | 25% | 0 | 0 |
| South Australia | $52.80 | -$878.354 March at 15:55 | $1,001.0024 March at 01:20 | 214.9 | 29% | 30 | 0 |
| Tasmania | $91.04 | -$15.005 March at 14:05 | $247.8830 March at 06:55 | 0.8 | 0% | 0 | 0 |
FCAS, monthly average prices
| Market | QLD | NSW | VIC | SA | TAS |
|---|---|---|---|---|---|
| Raise regulation | $4.08 | $4.07 | $4.09 | $4.09 | $5.12 |
| Lower regulation | $1.38 | $1.17 | $1.18 | $1.18 | $1.50 |
| Raise 1 second | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 |
| Raise 6 second | $0.04 | $0.13 | $0.14 | $0.14 | $4.31 |
| Raise 60 second | $0.03 | $0.09 | $0.10 | $0.10 | $0.47 |
| Raise 5 minute | $0.02 | $0.03 | $0.03 | $0.03 | $0.21 |
| Lower 1 second | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 |
| Lower 6 second | $1.17 | $0.01 | $0.01 | $0.01 | $1.30 |
| Lower 60 second | $1.16 | $0.02 | $0.02 | $0.02 | $0.43 |
| Lower 5 minute | $0.21 | $0.01 | $0.01 | $0.01 | $0.15 |
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.