How Victoria's grid-scale batteries performed in July 2026: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
Victoria (VIC1) batteries earned $7.30M in estimated gross energy and FCAS market revenue in July 2026, from 13 grid-scale units tracked by NEMPulse. Figures cover the full period.
Normalised across 1,720 MW and 3,496 MWh of registered capacity, the region earned $4,244/MW and $2,088/MWh for the period.
Total revenue was up 104% on June 2026, which returned $3.58M. Per MW per day — which strips out both fleet growth and the length of the window — earnings were up 97% at $137/MW/day. Optimal capture improved 4 points, from 41% to 45%.
Energy arbitrage supplied 98% of the total and FCAS 2%, with estimated Frequency Performance Payments contributing the remaining 0% ($43k). Within FCAS, regulation accounted for 90% and contingency 10%; the single largest market was raise regulation at $101k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in Victoria was $180/MWh, up 82% on the previous period, and the highest spot price reached $19,070/MWh.
Against the perfect-foresight energy benchmark, Victoria batteries captured 45% of what hindsight would have earned, an estimated $8.51M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Terang BESS (72%), Rangebank BESS (63%), Koorangie Energy Storage System (61%). At the other end: Ballarat Battery Energy Storage System (22%), Phillip Island BESS (19%), Bulgana Green Power Hub (15%) — capture reflects strategy, contracting and constraints as much as skill, so a low figure is not automatically underperformance.
The strongest single day was 8 Jul 2026 at $2.49M, and the best single battery-day was Rangebank BESS on 8 Jul 2026 with $683k. Revenue stays concentrated: five of the period's 31 days delivered 54% of everything Victoria batteries earned.
Melbourne Renewable Energy Hub Connection A3 led the region with $1.58M. Full dispatch, state-of-charge and bidding detail is available on each battery's page.
Victoria saw 11 price events this period, the sharpest an extreme price event peaking at $19,070/MWh.
| Battery | Energy + FCAS | $/MW | $/MWh | Capture |
|---|---|---|---|---|
| Melbourne Renewable Energy Hub Connection A3 | $1.58M | $7,886/MW | $1,972/MWh | 49% |
| Rangebank BESS | $1.45M | $7,239/MW | $3,619/MWh | 63% |
| Koorangie Energy Storage System | $1.30M | $7,036/MW | $3,518/MWh | 61% |
| Melbourne Renewable Energy Hub Connection A1 | $769k | $3,844/MW | $1,922/MWh | 34% |
| Melbourne Renewable Energy Hub Connection A2 | $737k | $3,685/MW | $1,842/MWh | 32% |
| Victorian Big Battery | $443k | $1,477/MW | $985/MWh | 27% |
| Latrobe Valley BESS | $424k | $4,245/MW | $2,122/MWh | 48% |
| Terang BESS | $248k | $2,479/MW | $1,239/MWh | 72% |
| Hazelwood Battery Energy Storage System | $236k | $1,570/MW | $1,570/MWh | 31% |
| Gannawarra Energy Storage System | $59k | $1,953/MW | $1,175/MWh | 37% |
| Bulgana Green Power Hub | $32k | $1,584/MW | $932/MWh | 15% |
| Ballarat Battery Energy Storage System | $26k | $877/MW | $877/MWh | 22% |
Capture = actual energy revenue as a share of the perfect-foresight LP benchmark; shown only for units with material modelled upside.
Keep reading: Previous period: June 2026NEM-wide wrap — July 2026Victoria 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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