Fleet-wide energy and FCAS market revenue, normalised $/MW and $/MWh, and the top-earning grid-scale batteries in May 2026.
Across the Australian National Electricity Market, 49 grid-scale batteries earned a combined $14.61M in estimated gross energy and FCAS market revenue in May 2026, based on AEMO dispatch data tracked by NEMPulse. Figures cover the full period.
Normalised across the fleet's 8,585 MW and 15,458 MWh of active capacity, batteries earned $2k/MW and $945/MWh for the period (equivalent to $20k/MW/yr annualised).
Revenue per MW by battery duration class: 1H: $1k/MW, 2H: $2k/MW, 3H: $2k/MW, 4H+: $4k/MW. Longer-duration assets typically earn more per MW through energy arbitrage, while shorter-duration batteries often lead on a per-MWh basis.
On energy arbitrage, the fleet captured 38% of the revenue a perfect-foresight strategy would have earned over the same period, leaving an estimated $20.82M on the table.
The top earners were Eraring Battery Energy Storage System ($1.91M); Western Downs Battery Energy Storage System (BESS) ($945k); Waratah Super Battery ($911k).
Alongside grid-scale BESS, 19 residential virtual power plant (VPP) and demand-response aggregator units contributed an estimated $7k in FCAS market revenue in May 2026 ($65/MW of registered FCAS capacity). VPPs participate exclusively in FCAS markets through pooled residential and commercial assets.
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Automatically generated from AEMO public data using fixed templates (not AI-written). Figures are estimated gross market revenue (energy + FCAS) from dispatch — they exclude contracts, hedges and network-support schemes (e.g. SIPS), so actual commercial revenue will differ.
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