NEM Overview
Market Summary
Prices dropped across most of the National Electricity Market (NEM). Queensland was the only state where prices rose slightly.
- QLD: Up to $79.01/MWh (from $74.91)
- NSW: Down slightly to $89.96/MWh (from $90.33)
- VIC: Down to $61.75/MWh (from $68.55)
- SA: Dropped to $61.79/MWh (from $91.34)
Key Points
Queensland bounced back from last month. Victoria and South Australia saw lower prices because of more solar energy and lower demand. NSW stayed steady overall, though a big price spike happened on 15 March during a high-demand event.
Futures prices went up a little. Markets are preparing for cooler months ahead.
State by State Report
New South Wales (NSW)
- Prices were steady—down just 0.4%.
- A high-demand spike on 15 March pushed prices to $17,480/MWh for a short time.
Queensland (QLD)
- Prices rose by 5.5%.
- Higher demand and more short-term cap costs drove the increase.
Victoria (VIC)
- Prices dropped by 9.9%.
- Low demand and stable generation kept prices down. 1,786 five-minute intervals were priced at or below $0.
South Australia (SA)
- Prices fell sharply by 32.3%.
- Lots of solar and low demand pushed many prices below $0. No high-price events recorded.
Industry News
- AGL builds 500 MW battery in NSW: The battery is going in at the old Liddell coal site. It’ll help keep supply stable by 2026.
- New demand forecasts from AEMO: Energy use is growing slower thanks to more solar and energy-saving upgrades in businesses.
- Project EnergyConnect gets going: This new link between SA, NSW, and VIC can move 150 MW of renewable power now—800 MW when fully done in 2027. It should make prices more stable and the grid stronger.
Further Reading
Download the Full Report
Download Watt Utilities’ Commercial Energy Market Report for March 2025, providing even more insights:
Download the Report (PDF) Wrap-Up
Prices moved in different directions across states. Solar played a big part in lowering prices, especially in the south. For businesses, the takeaway is simple: stay alert and keep your energy strategy flexible.
Plan Your Energy Strategy
Want help cutting your business energy costs? Talk to our expert Energy Managers at Watt Utilities. We’ll help you track the market and find the best options for your needs.
Contact Us 
