How New South Wales's grid-scale batteries performed in H2 2025: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
New South Wales (NSW1) batteries earned $17.12M in estimated gross energy and FCAS market revenue in H2 2025, from 10 grid-scale units tracked by NEMPulse. Figures cover the full period.
Normalised across 1,325 MW and 2,993 MWh of registered capacity, the region earned $13k/MW and $5,721/MWh for the period.
Energy arbitrage supplied 93% of the total and FCAS 5%, with estimated Frequency Performance Payments contributing the remaining 2% ($256k). Within FCAS, regulation accounted for 75% and contingency 25%; the single largest market was raise regulation at $449k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in New South Wales was $265/MWh, and the highest spot price reached $20,300/MWh.
Against the perfect-foresight energy benchmark, New South Wales batteries captured 30% of what hindsight would have earned, an estimated $35.60M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Riverina Energy Storage System 1 (67%), Darlington Point Energy Storage System (52%), Riverena Energy Storage System 2 (51%). At the other end: Queanbeyan BESS (18%), Waratah Super Battery (1%), Eraring Battery Energy Storage System (0%) — capture reflects strategy, contracting and constraints as much as skill, so a low figure is not automatically underperformance.
The strongest single day was 26 Nov 2025 at $1.46M, and the best single battery-day was Riverina Energy Storage System 1 on 26 Nov 2025 with $414k. Revenue stays concentrated: five of the period's 184 days delivered 24% of everything New South Wales batteries earned.
2 batteries earned their first market revenue in the period — Smithfield Battery Energy Storage System, Units 1 - 36, Limondale Battery — adding 115 MW of earning capacity.
Capital Battery led the region with $4.26M. Full dispatch, state-of-charge and bidding detail is available on each battery's page.
New South Wales saw 38 price events this period, the sharpest an extreme price event peaking at $20,300/MWh.
| Battery | Energy + FCAS | $/MW | $/MWh | Capture |
|---|---|---|---|---|
| Capital Battery | $4.26M | $43k/MW | $21k/MWh | 46% |
| Riverina Energy Storage System 1 | $3.82M | $64k/MW | $32k/MWh | 67% |
| Riverena Energy Storage System 2 | $3.06M | $47k/MW | $24k/MWh | 51% |
| Wallgrove BESS 1 | $2.42M | $48k/MW | $31k/MWh | 46% |
| Smithfield Battery Energy Storage System, Units 1 - 36 | $1.28M | $20k/MW | $9,864/MWh | 48% |
| Broken Hill Battery Energy Storage System | $1.24M | $25k/MW | $25k/MWh | 45% |
| Darlington Point Energy Storage System | $1.19M | $47k/MW | $24k/MWh | 52% |
| Queanbeyan BESS | $109k | $11k/MW | $5,457/MWh | 18% |
| Limondale Battery | $91k | $1,813/MW | $169/MWh | 37% |
| Waratah Super Battery | $45k | $53/MW | $27/MWh | 1% |
Capture = actual energy revenue as a share of the perfect-foresight LP benchmark; shown only for units with material modelled upside.
Third-party reporting on these units, matched automatically and linked for context. NEMPulse does not endorse or verify external coverage.
Keep reading: NEM-wide wrap — H2 2025New South Wales battery fleetActual vs optimal dispatchMarket eventsHow capture is calculated
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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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