Actual revenue as a percentage of a benchmark: vs the perfect-foresight ceiling (capped at 100%, in practice rarely reached) or vs the forecast-informed benchmark (the same idealised LP re-run on AEMO's free public forecast instead of the truth). Measures how effectively the battery exploited the value available to it — the forecast benchmark isolates the value of price information, not realistic operator execution (see Forecast Benchmark).
Energy capture (often shown as a capture rate or capture percentage) is a battery's actual revenue expressed as a share of a benchmark. NEMPulse publishes two: capture versus the perfect-foresight ceiling, which is capped at 100% and in practice rarely approached by any real unit, and capture versus the forecast-informed benchmark, which a well-run unit can occasionally match or exceed if its private forecast or execution is better than the idealised model's.
Capture rate is the headline way NEMPulse compares how effectively different batteries are exploiting the value available to them, but the two benchmarks answer different questions — see Forecast Benchmark for why the forecast-informed figure is the fairer one for judging realistic performance, and the perfect-foresight figure the fairer one for judging the size of the total opportunity.
Related terms: LP BackcastForecast Benchmark
See also: Actual vs optimal performancePerformance rankings
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