South Australia had the highest average spot price, $95.89/MWh, and Queensland the lowest, $65.43/MWh.
Across the five regions the average was $76.85/MWh, down 9% on June 2026.
Prices went below zero for 142.0 hours in South Australia, 19% of the month, the most of any region.
The highest 5-minute price was $23,200.00/MWh in Tasmania on 13 July at 16:20.
The lowest was -$757.07/MWh in Victoria on 13 July at 10:15.
It was the highest monthly average of the 11 months on record for Victoria.
Spot prices by region, July 2026
| Region | Average | Lowest | Highest | Negative hours | Share of month | Intervals over $300 | Over $5,000 |
|---|---|---|---|---|---|---|---|
| Queensland | $65.43 | -$8.7116 July at 11:35 | $294.3931 July at 07:05 | 55.5 | 7% | 0 | 0 |
| New South Wales | $81.52 | -$8.7724 July at 14:40 | $531.8531 July at 07:30 | 10.8 | 1% | 15 | 0 |
| Victoria | $70.36 | -$757.0713 July at 10:15 | $19,069.698 July at 19:40 | 108.3 | 15% | 85 | 2 |
| South Australia | $95.89 | -$204.0513 July at 15:35 | $16,970.868 July at 19:40 | 142.0 | 19% | 391 | 2 |
| Tasmania | $71.04 | -$15.7413 July at 07:05 | $23,200.0013 July at 16:20 | 58.3 | 8% | 72 | 3 |
FCAS, monthly average prices
| Market | QLD | NSW | VIC | SA | TAS |
|---|---|---|---|---|---|
| Raise regulation | $2.83 | $2.83 | $2.83 | $2.88 | $7.33 |
| Lower regulation | $1.02 | $1.02 | $1.02 | $1.05 | $1.94 |
| Raise 1 second | $0.02 | $0.02 | $0.02 | $2.74 | $0.01 |
| Raise 6 second | $0.04 | $0.04 | $0.04 | $0.19 | $0.41 |
| Raise 60 second | $0.03 | $0.03 | $0.03 | $0.20 | $0.21 |
| Raise 5 minute | $0.01 | $0.01 | $0.01 | $0.07 | $0.05 |
| Lower 1 second | $0.01 | $0.00 | $0.00 | $0.64 | $0.00 |
| Lower 6 second | $0.05 | $0.02 | $0.02 | $0.06 | $0.20 |
| Lower 60 second | $0.07 | $0.04 | $0.04 | $0.18 | $0.08 |
| Lower 5 minute | $0.02 | $0.02 | $0.02 | $0.05 | $0.02 |
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.