How New South Wales's grid-scale batteries performed in 2025: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
New South Wales (NSW1) batteries earned $42.64M in estimated gross energy and FCAS market revenue in 2025, from 11 grid-scale units tracked by NEMPulse. NEMPulse data begins 13 Apr 2025, so figures cover 13 Apr 2025–31 Dec 2025 of this period.
Normalised across 1,825 MW and 4,079 MWh of registered capacity, the region earned $23k/MW and $10k/MWh for the period.
Energy arbitrage supplied 96% of the total and FCAS 3%, with estimated Frequency Performance Payments adding $296k. Within FCAS, regulation accounted for 71% and contingency 29%; the single largest market was raise regulation at $643k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in New South Wales was $395/MWh, and the highest spot price reached $20,300/MWh.
Against the perfect-foresight energy benchmark, New South Wales batteries captured 36% of what hindsight would have earned, an estimated $68.62M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Riverina Energy Storage System 1 (78%), Darlington Point Energy Storage System (64%), Riverena Energy Storage System 2 (62%). At the other end: Queanbeyan BESS (30%), Waratah Super Battery (10%), 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 Jun 2025 at $8.41M, and the best single battery-day was Waratah Super Battery on 26 Jun 2025 with $3.31M. Revenue stays concentrated: five of the period's 263 days delivered 47% of everything New South Wales batteries earned.
Capital Battery led the region with $9.46M. Full dispatch, state-of-charge and bidding detail is available on each battery's page.
New South Wales saw 63 price events this period, the sharpest an extreme price event peaking at $20,300/MWh.
| Battery | Energy + FCAS | $/MW | $/MWh | Capture |
|---|---|---|---|---|
| Capital Battery | $9.46M | $95k/MW | $47k/MWh | 53% |
| Riverina Energy Storage System 1 | $9.00M | $150k/MW | $75k/MWh | 78% |
| Riverena Energy Storage System 2 | $6.98M | $107k/MW | $54k/MWh | 62% |
| Wallgrove BESS 1 | $5.72M | $114k/MW | $73k/MWh | 59% |
| Waratah Super Battery | $4.05M | $4,764/MW | $2,412/MWh | 10% |
| Broken Hill Battery Energy Storage System | $2.86M | $57k/MW | $57k/MWh | 50% |
| Darlington Point Energy Storage System | $2.80M | $112k/MW | $56k/MWh | 64% |
| Smithfield Battery Energy Storage System, Units 1 - 36 | $1.56M | $24k/MW | $12k/MWh | 59% |
| Queanbeyan BESS | $339k | $34k/MW | $17k/MWh | 30% |
| Limondale Battery | $79k | $1,582/MW | $148/MWh | 33% |
| Liddell Battery Energy Storage System | $43 | $0/MW | $0/MWh | — |
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 — 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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