Fleet-wide energy and FCAS market revenue, normalised $/MW and $/MWh, and the top-earning grid-scale batteries in August 2026.
Across the Australian National Electricity Market, 58 grid-scale batteries earned a combined $28.79M in estimated gross energy and FCAS market revenue in August 2026, based on AEMO dispatch data tracked by NEMPulse. Figures cover the full period.
Normalised across the fleet's 8,983 MW and 21,539 MWh of active capacity, batteries earned $3,205/MW and $1,337/MWh for the period (equivalent to $38k/MW/yr annualised).
Total revenue was up 6% on July 2026, which returned $27.22M. Per MW per day — which strips out both fleet growth and the length of the window — earnings were down 4% at $103/MW/day. Optimal capture improved 6 points, from 48% to 54%.
Energy arbitrage supplied 97% of the total and FCAS 2%, with estimated Frequency Performance Payments contributing the remaining 1% ($191k). Within FCAS, regulation accounted for 81% and contingency 19%; the single largest market was raise regulation at $327k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) across the five NEM regions was $110/MWh, down 27% on the previous period, and the highest spot price reached $450/MWh.
Revenue per MW by battery duration class: 1H: $1,225/MW, 2H: $2,822/MW, 3H: $1,035/MW, 4H+: $6,141/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 54% of the revenue a perfect-foresight strategy would have earned over the same period, leaving an estimated $23.35M on the table.
Re-solving the same batteries on AEMO's published PREDISPATCH price forecasts instead of hindsight — execution held identical to the perfect run — reaches 69% of the perfect ceiling across the 31 forecast-covered days in the period, against 51% actually realised. That isolates what public price information alone is worth; it is a reference point, not a floor — real dispatch can beat it or fall short of it.
On capture of the perfect-foresight energy benchmark, the strongest performers were Limondale Battery (81%), Woolooga BESS (77%), Supernode BESS (76%). At the other end: Bulgana Green Power Hub (5%), Phillip Island BESS (0%), Pine Lodge BESS (-10%) — capture reflects strategy, contracting and constraints as much as skill, so a low figure is not automatically underperformance.
The strongest single day was 5 Aug 2026 at $1.98M, and the best single battery-day was Orana BESS on 5 Aug 2026 with $272k. Revenue stays concentrated: five of the period's 31 days delivered 29% of everything the fleet earned.
One battery earned its first market revenue in the period — Eraring Battery Energy Storage System 2 — adding 240 MW of earning capacity.
The top earners were Eraring Battery Energy Storage System ($3.03M); Orana BESS ($2.36M); Supernode BESS ($2.33M).
Alongside grid-scale BESS, 15 residential virtual power plant (VPP) and demand-response aggregator units contributed an estimated $6k in FCAS market revenue in August 2026 ($93/MW of registered FCAS capacity). VPPs participate exclusively in FCAS markets through pooled residential and commercial assets.
NEMPulse recorded one significant price event during the period, negative pricing in South Australia peaking at $-497/MWh. Each event, and how every battery responded, is broken down on the market events page.
| Battery | Region | Energy + FCAS | $/MW | $/MWh | Capture |
|---|---|---|---|---|---|
| Eraring Battery Energy Storage System | NSW1 | $3.03M | $6,585/MW | $1,517/MWh | 66% |
| Orana BESS | NSW1 | $2.36M | $5,698/MW | $1,424/MWh | 65% |
| Supernode BESS | QLD1 | $2.33M | $8,962/MW | $2,138/MWh | 76% |
| Waratah Super Battery | NSW1 | $1.59M | $1,868/MW | $946/MWh | 38% |
| Melbourne Renewable Energy Hub Connection A3 | VIC1 | $1.42M | $7,085/MW | $1,771/MWh | 64% |
| Tarong BESS | QLD1 | $1.10M | $3,652/MW | $1,826/MWh | 61% |
| Swanbank BESS | QLD1 | $1.05M | $4,194/MW | $2,097/MWh | 71% |
| Western Downs Battery Energy Storage System | QLD1 | $1.02M | $4,012/MW | $2,558/MWh | 73% |
| Supernode BESS | QLD1 | $1.02M | $3,924/MW | $1,872/MWh | 73% |
| Western Downs Battery Energy Storage System (BESS) | QLD1 | $1.00M | $3,931/MW | $1,966/MWh | 59% |
Capture = actual energy revenue as a share of the perfect-foresight LP benchmark; shown only for units with material modelled upside.
| Region | Batteries | Energy + FCAS | $/MW | $/MWh |
|---|---|---|---|---|
| Queensland | 15 | $11.30M | $4,043/MW | $1,834/MWh |
| New South Wales | 16 | $9.45M | $3,001/MW | $979/MWh |
| Victoria | 14 | $5.66M | $2,803/MW | $1,366/MWh |
| South Australia | 13 | $2.38M | $2,332/MW | $1,503/MWh |
$/MW uses Max Cap (the grid-constrained operational rating); $/MWh uses registered energy capacity.
Third-party reporting on these units, matched automatically and linked for context. NEMPulse does not endorse or verify external coverage.
Keep reading: Previous period: July 2026Battery fleet dashboardPerformance rankingsActual vs optimal dispatchMarket eventsHow capture is calculated
Explore: All insightsBattery fleetActual vs optimalPerformance rankingsMarket economicsMarket eventsBid stackBidding strategyVirtual power plantsProject simulatorAskPulseEmail alerts
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.
Loading live data…