New South Wales had the highest average spot price, $127.83/MWh, and South Australia the lowest, $49.70/MWh.
Across the five regions the average was $77.23/MWh, up 64% on September 2026.
Prices went below zero for 244.4 hours in South Australia, 33% of the month, the most of any region.
The highest 5-minute price was $23,200.00/MWh in New South Wales on 10 October at 07:20.
The lowest was -$414.98/MWh in South Australia on 11 October at 12:10.
It was the highest monthly average of the 14 months on record for Queensland and New South Wales.
Spot prices by region, October 2026
| Region | Average | Lowest | Highest | Negative hours | Share of month | Intervals over $300 | Over $5,000 |
|---|---|---|---|---|---|---|---|
| Queensland | $94.09 | -$175.591 October at 13:30 | $860.059 October at 05:10 | 55.0 | 7% | 20 | 0 |
| New South Wales | $127.83 | -$10.5020 October at 14:10 | $23,200.0010 October at 07:20 | 4.5 | 1% | 87 | 12 |
| Victoria | $52.94 | -$365.2311 October at 12:10 | $406.115 October at 06:25 | 200.7 | 27% | 8 | 0 |
| South Australia | $49.70 | -$414.9811 October at 12:10 | $3,210.989 October at 07:20 | 244.4 | 33% | 7 | 0 |
| Tasmania | $61.59 | -$157.8310 October at 11:45 | $359.125 October at 06:25 | 138.8 | 19% | 8 | 0 |
FCAS, monthly average prices
| Market | QLD | NSW | VIC | SA | TAS |
|---|---|---|---|---|---|
| Raise regulation | $3.29 | $3.29 | $3.29 | $3.29 | $9.54 |
| Lower regulation | $1.47 | $1.40 | $1.40 | $1.40 | $9.34 |
| Raise 1 second | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 |
| Raise 6 second | $0.04 | $0.04 | $0.04 | $0.04 | $7.97 |
| Raise 60 second | $0.04 | $0.04 | $0.04 | $0.04 | $0.35 |
| Raise 5 minute | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| Lower 1 second | $0.06 | $0.00 | $0.00 | $0.89 | $0.00 |
| Lower 6 second | $0.36 | $0.02 | $0.02 | $0.05 | $0.50 |
| Lower 60 second | $0.25 | $0.04 | $0.04 | $0.14 | $0.14 |
| Lower 5 minute | $0.10 | $0.03 | $0.03 | $0.03 | $0.08 |
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.