Solar Analytica · Decision briefPrepared 22 July 2026
New South Wales recorded sustained negative pricing
100 five-minute intervals, or 8.3 hours, settled below zero during the operating day.
Market
NSW1
Observed
9 April 2023
Triggered value
100 5-minute intervals
Severity
notable
Executive read
What changed
Measurement. Negative-price intervals reached 100 5-minute intervals against a 12 5-minute intervals reference.
Decision implication. Sustained negative prices expose the value of flexible load, storage and controllable generation while weakening unshifted merchant solar capture.
Evidence boundary. The event is a deterministic threshold or record comparison. It identifies a measurement that warrants investigation; it does not assign causality or quantify commercial exposure.
Operating context