GSD2025

A collation of articles pertaining to the GSD2025, which was released in January 2026:

1)  collating data for the 10 years to 31st December 2025

2)  With a particular focus on calendar 2025 in a detailed ‘B’ page for every DUID operational in ENERGY through 2025.










Who killed FCAS?

Alex Leemon looks at how FCAS bidding and enablement volumes have shifted over the past decade — drawing on New South Wales data — to unpack what’s been driving the post-2023 collapse in FCAS prices.




Keeping up with the curtailment 2025: Beneath the headline numbers

This latest instalment of our annual review into solar and wind farm curtailment across the NEM, looks at outcomes in 2025 and highlights increasingly divergent results by region and by asset as network constraints, pricing dynamics and seasonal weather conditions interact.


Coal is adjusting but the market isn’t waiting

David Leitch reflects on how coal generators have adapted to a changing NEM, drawing on time-of-day profiles, and data from our GSD, and explains why — despite that flexibility — the underlying economics are becoming increasingly fragile as batteries reshape the evening peak.