Renewable output kept spot prices soft across the NEM last week, certificate markets eased, and east coast gas held in a narrow band. Energy Action's weekly wrap covers what moved and what it means for your next contracting decision.
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LGC spot eased from $8.18 to $7.75. Cal 27 and Cal 28 LGC trades moved higher, while Cal 29 remained flat.
ACCUs stayed soft, with forward contracts trading around $41.70.
VEECs retraced from about $87 to the mid-$85s, while Cal 27 traded near $86.30. ESC spot traded around $28.75, just below Monday's $29.00. No STC trades were reported.
PRC rule changes broadened eligibility for some battery projects and clarified technical requirements.
| Certificate | Latest Spot |
|---|---|
| LGC | $7.75 |
| VEEC | Mid-$85s |
| ESC | $28.75 |
| ACCU | $38.68 |
| STC | $39.85 (no trades reported) |
For organisations managing surrender obligations or voluntary targets, softening certificate prices can open a buying window. Our Net Zero and carbon certificate services help you source, track and retire certificates with full audit traceability.
Spot conditions stayed soft last week, supported by strong renewable output and frequent low or negative pricing intervals. Victoria's daily average fell below zero twice, at −$0.79/MWh on 1 September and −$4.09/MWh on 5 September, while South Australia and Tasmania both averaged in single digits on their softest days.
NSW and Queensland remained stable, with no major spot impacts identified. NSW held a $39–$66/MWh band and Queensland $35–$54/MWh across the week. South Australia, Victoria and Tasmania carried short-duration volatility around planned network constraints, with evening spikes also appearing as renewable output fell.
Western Australia traded at a substantial premium to the east coast all week, though daily averages eased from $125.60/MWh on 2 September to $94.21/MWh by Sunday.
Daily average spot prices across the NEM and WA, tracked live in Utilibox — Energy Action's energy management platform.
| Date | NSW | VIC | QLD | SA | TAS | WA |
|---|---|---|---|---|---|---|
| Sep 07 | 44.92 | 18.99 | 35.15 | 31.47 | 26.71 | 94.21 |
| Sep 06 | 56.28 | 42.50 | 41.90 | 59.02 | 44.67 | 98.54 |
| Sep 05 | 39.15 | −4.09 | 36.81 | 2.30 | 4.66 | 105.86 |
| Sep 04 | 66.24 | 43.98 | 53.65 | 41.22 | 49.82 | 114.60 |
| Sep 03 | 52.86 | 42.21 | 46.37 | 41.69 | 43.14 | 107.21 |
| Sep 02 | 46.60 | 41.61 | 45.10 | 65.25 | 40.67 | 125.60 |
| Sep 01 | 45.45 | −0.79 | 42.16 | 15.24 | 8.98 | 122.53 |
Prices in $/MWh, daily average. Source: Utilibox.
Weather is not expected to materially lift demand this week across the NEM.
Futures broadly softened across the curve.
A softening forward curve rewards buyers who are ready to act. If your contract expires in the next 6 to 18 months, a staged approach through progressive energy purchasing lets you lock in blocks as the market dips rather than betting on a single day's price. Our business energy procurement services bring retailers to you through competitive tenders and live reverse auctions.
East coast gas held in a familiar range through the week, with daily averages easing mid-week before firming toward the weekend.
| Date | NSW | VIC | QLD | SA |
|---|---|---|---|---|
| Sep 07 | 10.30 | 9.61 | 11.11 | 10.42 |
| Sep 06 | 10.39 | 9.03 | 10.80 | 10.40 |
| Sep 05 | 10.79 | 9.15 | 11.27 | 10.95 |
| Sep 04 | 10.90 | 9.49 | 11.75 | 11.08 |
| Sep 03 | 10.28 | 9.67 | 10.91 | 10.60 |
| Sep 02 | 10.30 | 8.60 | 10.82 | 10.20 |
| Sep 01 | 10.80 | 8.38 | 11.17 | 10.75 |
Prices in $/GJ, daily average.
Victoria remained the cheapest hub, trading well below the other states all week, while Queensland carried the highest daily averages and peaked at $11.75/GJ on 4 September.
Soft spot conditions and a weakening curve favour buyers, but timing matters. Tracking your consumption, contract expiry dates and market position in one place through energy reporting and monitoring means you can move when the window opens rather than discovering it after it closes.
If you want a second opinion on your current position, our independent energy consultants work for you, not the retailers. Talk to Energy Action about your next contract before the market turns.
An energy market update is a regular briefing on movements in electricity, gas and carbon certificate prices, covering both spot markets and forward contracts. It helps businesses understand what drove prices in the past week and what to watch ahead. Energy Action publishes its energy market update weekly, drawing on live data from the Utilibox platform.
Spot prices turn negative when generation exceeds demand, typically during high solar and wind output in the middle of the day. Victoria recorded negative daily averages twice last week, at −$0.79/MWh and −$4.09/MWh. Generators effectively pay to stay online during these intervals, and businesses on spot-exposed contracts can benefit if they can shift load into those periods.
Western Australia operates its own market, the WEM, which is separate from the National Electricity Market and cannot import power from the eastern states. Its pricing reflects local gas costs, a smaller generation fleet and different market rules. Last week WA daily averages ranged from $94.21 to $125.60/MWh, well above every NEM region.
A softening forward curve generally favours buyers, but the right timing depends on your contract expiry, load profile and risk appetite. Rather than trying to pick the bottom of the market, many organisations stagger their purchases through progressive purchasing to average their price over time. Independent advice matters because retailers have no incentive to tell you when to wait.
Energy Action tracks electricity, gas and certificate markets daily through its Utilibox platform and publishes this energy market update every week. Beyond the wrap, our consultants use the same data to time procurement events, validate invoices and build audit-ready emissions reporting for more than 7,000 Australian businesses. If you want market intelligence applied to your own sites and contracts, talk to us.
