Fleet-wide energy and FCAS market revenue, normalised $/MW and $/MWh, and the top-earning grid-scale batteries in 2025.
Across the Australian National Electricity Market, 46 grid-scale batteries earned a combined $292.27M in estimated gross energy and FCAS market revenue in 2025, based on AEMO dispatch data tracked by NEMPulse. NEMPulse data begins 13 Apr 2025, so figures cover 13 Apr 2025–31 Dec 2025 of this period.
Normalised across the fleet's 7,709 MW and 12,450 MWh of active capacity, batteries earned $38k/MW and $23k/MWh for the period (equivalent to $38k/MW/yr annualised).
Revenue per MW by battery duration class: 1H: $55k/MW, 2H: $29k/MW, 4H+: $8k/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 49% of the revenue a perfect-foresight strategy would have earned over the same period, leaving an estimated $262.63M on the table.
The top earners were Western Downs Battery Energy Storage System ($32.33M); Rangebank BESS ($25.95M); Victorian Big Battery ($19.85M).
Alongside grid-scale BESS, 25 residential virtual power plant (VPP) and demand-response aggregator units contributed an estimated $445k in FCAS market revenue in 2025 ($5k/MW of registered FCAS capacity). VPPs participate exclusively in FCAS markets through pooled residential and commercial assets.
NEMPulse recorded 237 significant price events during the period — explore each one, and how the fleet responded, on the market events page.
Explore: All insightsBattery fleetActual vs optimalMarket 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.
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