NEMAustralia and New Zealand
Australia NEMNational Electricity Market (NEM)
An energy-only market covering Queensland, New South Wales, Victoria, South Australia and Tasmania, with five-minute dispatch and settlement.
- Market operator
- AEMO
Markets
Energy project modelling for the markets you build in
Every electricity market pays for energy and flexibility in its own way. Gridcog models solar, wind, battery storage and flexible load projects against each market’s rules and data: wholesale prices, frequency and balancing services, capacity payments and network tariffs. Choose a market to see what we model there.
18,000+
Energy projects modelled
40+
Markets with price data in Gridcog
5
Offices across Europe and Australia
Which electricity markets does Gridcog model?
Each of these markets has its own page, with the rules, data and revenue streams Gridcog models there. More are on the way as we expand.
Showing all 9 markets
WEMAustralia and New Zealand
Western Australia WEMWholesale Electricity Market (WEM)
Western Australia’s market on the South West Interconnected System (SWIS), which pays for capacity as well as energy.
- Market operator
- AEMO
Real-Time MarketReserve Capacity MechanismFCESSNZAustralia and New Zealand
New ZealandNew Zealand electricity market
An energy-only market with nodal pricing at more than 200 points on the grid, in a power system led by hydro, geothermal and wind.
- System operator
- Transpower
Nodal spot pricesHalf-hourly tradingInstantaneous reservesGBUK and Europe
UK (Great Britain)UK electricity market (GB)
England, Scotland and Wales, with day-ahead and intraday trading, the Balancing Mechanism, dynamic frequency response and a Capacity Market.
- System operator
- NESO
Balancing MechanismDC, DM and DRCapacity MarketP415IEUK and Europe
IrelandSingle Electricity Market (SEM)
One market for Ireland and Northern Ireland, with day-ahead, intraday and balancing markets, capacity auctions and system services.
- System operators
- EirGrid and SONI
Capacity auctionsDS3 and FASSDispatch-downESUK and Europe
SpainSpain’s electricity market
Day-ahead and intraday trading through OMIE, shared with Portugal, and a new capacity market in force since September 2026.
- System operator
- Red Eléctrica
OMIE day-aheadaFRR and mFRRHybrid projectsFRUK and Europe
FranceFrench electricity market
A single price zone led by nuclear power, with a newly centralised capacity mechanism and TURPE network tariffs.
- System operator
- RTE
FCR and aFRRCapacity mechanismTURPE tariffsDEUK and Europe
GermanyGerman electricity market
One price zone shared with Luxembourg, with 15-minute trading, four transmission system operators and fast-changing rules for storage.
- System operators
- 50Hertz, Amprion, TenneT and TransnetBW
FCR and aFRRMiSpeLFlexible connectionsNORDUK and Europe
NordicsNordic power markets
Norway, Sweden, Denmark and Finland, sharing one day-ahead market across 12 bidding zones and two synchronous areas.
- System operators
- Statnett, Svenska kraftnät, Energinet and Fingrid
12 bidding zonesFCR-N and FCR-DaFRR and mFRR
Building somewhere else?
Gridcog holds price data for 40+ markets, and you can set up any market with your own price curves, grid services and network tariffs. Tell us where you’re building and we’ll show you how.
How do these electricity markets compare?
The design choices that change a project’s revenue, side by side. Each market page has the detail.
| Market | System operator | How energy is traded | Capacity payments | Frequency and reserve services |
|---|---|---|---|---|
| Australia NEM | AEMO | Gross pool across five regions, with five-minute dispatch and settlement | None (energy-only) | 10 FCAS markets: regulation and contingency |
| Western Australia WEM | AEMO | Real-Time Market, plus the day-ahead Short Term Energy Market (STEM) | Reserve Capacity Mechanism | 5 FCESS markets, including RoCoF control |
| New Zealand | Transpower | Nodal spot market with half-hourly prices | None (energy-only) | Instantaneous reserves and frequency keeping |
| UK (Great Britain) | NESO | Bilateral contracts, day-ahead and intraday exchanges, then the Balancing Mechanism | Capacity Market (T-4 and T-1 auctions) | Dynamic Containment, Moderation and Regulation; Quick Reserve |
| Ireland | EirGrid and SONI | Day-ahead, intraday and balancing markets for the whole island, in half-hour periods | Capacity auctions | DS3 system services, moving to auctions under FASS |
| Spain | Red Eléctrica | OMIE day-ahead and intraday, shared with Portugal | New capacity market, in force since September 2026 | aFRR and mFRR |
| France | RTE | Day-ahead and intraday on EPEX SPOT and Nord Pool, in one price zone | Centralised capacity mechanism | FCR, aFRR and mFRR |
| Germany | 50Hertz, Amprion, TenneT and TransnetBW | Day-ahead and intraday on EPEX SPOT, Nord Pool and EEX, in one zone with Luxembourg | New capacity auctions under the StromVKG (first in 2026) | FCR, aFRR and mFRR |
| Nordics | Statnett, Svenska kraftnät, Energinet and Fingrid | One coupled day-ahead market and intraday trading across 12 bidding zones | None (strategic reserves only) | FCR-N, FCR-D, aFRR and mFRR |
Last reviewed: November 2026. Market rules change often; check each market page for sources.
What does Gridcog model in each market?
The same four layers in every project, set up with each market’s own rules and data, then optimised together interval by interval.
Wholesale energy
Spot, day-ahead and intraday prices, from Gridcog’s historical data, premium forecasts or your own forward curves.
For example
NEM regional spotGB day-ahead and intradayNZ nodal prices
Frequency and balancing services
Frequency control, reserve and balancing markets, co-optimised with energy trading so the same capacity is never sold twice.
For example
FCASBalancing MechanismFCR and aFRR
Capacity and support schemes
Capacity payments, contracts for difference and other support schemes, in the same cashflow as merchant revenue.
For example
Reserve Capacity MechanismGB Capacity MarketEEG and CfDs
Network tariffs and contracts
Network charges, connection limits and offtake contracts such as PPAs, swaps and revenue floors.
For example
TNUoS and DUoSTURPEPPAs and floors
Market data built in
Gridcog keeps regularly updated historical prices from AEMO, New Zealand’s Electricity Authority, NESO, EPEX SPOT, ENTSO-E and Nord Pool, with NEM data back to 2012. Start from real market data, or upload your own. An intro to wholesale energy markets.
Local teams
Market experts where you build
Gridcog’s analysts and customer teams work from five offices across Europe and Australia, close to the markets they model. Each market page introduces the experts who write about it.
London
United Kingdom
Berlin
Germany
Madrid
Spain
Perth
Western Australia
Melbourne
Victoria, Australia
Latest market insights
EUEurope·
Genna Boyle on the Pexapark Podcast: grid scarcity, co-location and how markets are reacting
NORDNordics·
The Nordic power markets: where’s the opportunity for battery storage?
NEMAustralia NEM·
The ESEM’s three contract designs for the NEM
Frequently asked questions
Gridcog has dedicated pages for nine markets: Australia’s NEM and WEM, New Zealand, the UK (Great Britain), Ireland, Spain, France, Germany and the Nordics. It holds price data for more than 40 markets, and you can model any other market by adding your own price curves, grid services and network tariffs.
Both are run by AEMO, but they are separate grids with different designs. The NEM is an energy-only market covering Queensland, New South Wales, Victoria, South Australia and Tasmania, with ten FCAS markets. The WEM serves Western Australia’s South West Interconnected System and pays for capacity as well as energy through the Reserve Capacity Mechanism, with five FCESS markets.
Not for wholesale trading. Northern Ireland shares the all-island Single Electricity Market (SEM) with Ireland, run by EirGrid and SONI. Great Britain (England, Scotland and Wales) is a separate market, with NESO as system operator. That’s why Gridcog covers them on separate pages: the UK electricity market (GB) and Ireland’s Single Electricity Market (SEM).
Yes. Gridcog’s market model isn’t tied to one country. Set up a market with your own wholesale price curves, grid service prices and network tariffs, or start from Gridcog’s day-ahead price data for European countries such as Italy, the Netherlands, Poland and Portugal.
Gridcog keeps a regularly updated database of current and historical prices from market operators and exchanges, including AEMO, New Zealand’s Electricity Authority, NESO, EPEX SPOT, ENTSO-E and Nord Pool. You can use these prices as they are, adapt them, or upload your own forward curves and data.
Yes. Gridcog co-optimises a battery’s dispatch across energy trading and grid services, such as FCAS in the NEM or the Balancing Mechanism and dynamic response in Great Britain, so the same capacity is never sold twice. You can set acceptance rates for each service, and dispatch can follow forecasts rather than perfect foresight.
There’s no single answer. Battery returns depend on price spreads, grid service prices, capacity payments, network charges and connection costs, and these differ between markets and within them. Modelling the same battery against each market’s rules is the quickest way to compare them.
Yes. Gridcog is built for multi-market, multi-site modelling, so you can run the same design against each market’s prices, services and tariffs and compare the cashflows, IRR and payback.
Request a live demo
See Gridcog in your market
Tell us where you’re building and what you’re modelling. We’ll show you Gridcog on a project like yours, with that market’s prices, services and tariffs.
The team behind Gridcog
Fabian Le Gay Brereton
Chief Executive Officer & Co-Founder
Previously co-founded Greensense, acquired by ERM Power (now Shell Energy).
Pete Tickler
Chief Product Officer & Co-Founder
Co-founded Greensense and led digital innovation at ERM Power (now Shell Energy).
Genna Boyle
Chief Commercial Officer & Head of EMEA
More than 10 years in energy strategy, trading and renewables, with senior roles at Battery Optimiser and Limejump.
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