Total revenue (energy + FCAS + FPP) divided by Max Cap MW power capacity (the grid-constrained operational rating AEMO dispatches against, matching public disclosures) for the selected period. The standard normalised metric used by analysts (e.g. $/MW/yr) to compare battery economics regardless of duration.
Revenue per MW is a battery's total revenue — energy arbitrage, all ten FCAS markets, and estimated FPP — divided by its power capacity in megawatts, for a chosen period. It is the standard way analysts normalise and compare battery economics, most often quoted on an annualised basis as dollars per MW per year ($/MW/yr), because it strips out the effect of raw size: a 300 MW battery earning three times as much as a 100 MW one is not necessarily performing any better per unit of capacity.
NEMPulse divides by Max Cap MW — the grid-constrained operational rating AEMO actually dispatches against, which matches how public disclosures and industry benchmarks report capacity — rather than the nameplate figure, so its per-MW numbers are comparable with those published elsewhere. Because revenue per MW ignores duration, it tends to favour shorter-duration units that can concentrate their power into the highest-price intervals; the companion metric, revenue per MWh, normalises for duration instead.
Related terms: Revenue per MWhEnergy CaptureEnergy Arbitrage
See also: Performance rankingsBattery fleet
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