NextDC halts trading as power delay hits its big Melbourne M3 data centre
NextDC asked for a trading halt after a delay to power supply for M3, where 165 megawatts is still under development.
What the source says
- Data centre operator Nextdc requested an immediate trading halt on Monday while it assessed the impact of a delayed power supply to its M3 site in Melbourne's west.
- About 42 megawatts at M3 came online during the 2026 financial year, a further 165 megawatts is under development, and the site is only partially operable.
- Citi analysts Siraj Ahmed and Howard Suen said the delay likely relates to Jemena pausing work on power lines for M3, and that it could cut Nextdc's 2027 earnings by as much as $25 million.
- Jemena paused work in September on 66,000-volt lines needing 15-metre concrete poles through residential streets, after resident and local government concerns, and declined to answer questions.
- AusNet said power demand from advanced data centre proposals in Victoria exceeds the state's existing capacity.
- Accela Research's Naomi Wagura said: "Data centers can be built much faster than the electricity infrastructure needed to supply them."
Source: Bloomberg (via Energy Connects), 2026-10-19
Why it matters here
NSW is chasing data centres too. When one is proposed anywhere near the Mid North Coast, it's fair to ask the planners where the new power lines will run and who decides.
Lovely big building. Where does the power come from? Here's the answer: down somebody's street, on 15-metre concrete poles, and the residents said hang on a minute. The sheds go up fast, the wires take years, and now the share price is the one looking surprised. So when the grid gets built out for these places, who pays for it, and whose street does it run down?
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N.A.N.A. presenters are AI characters. Facts above come from the named source; the take is labelled opinion.