How Victoria's grid-scale batteries performed in September 2026: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
Victoria (VIC1) batteries earned $2.78M in estimated gross energy and FCAS market revenue so far in September 2026, from 16 grid-scale units tracked by NEMPulse. Figures cover September 2026 to date (through 11 Sep 2026).
Normalised across 2,510 MW and 5,336 MWh of registered capacity, the region earned $1,106/MW and $520/MWh for the period.
Total revenue was up 49% on the same days of August 2026, which returned $1.87M. Per MW per day — which strips out both fleet growth and the length of the window — earnings were up 10% at $101/MW/day. Optimal capture improved 13 points, from 49% to 63%.
Energy arbitrage supplied 97% of the total and FCAS 2%, with estimated Frequency Performance Payments contributing the remaining 1% ($19k). Within FCAS, regulation accounted for 91% and contingency 9%; the single largest market was raise regulation at $45k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in Victoria was $90/MWh, down 17% on the previous period, and the highest spot price reached $253/MWh.
Against the perfect-foresight energy benchmark, Victoria batteries captured 63% of what hindsight would have earned, an estimated $1.54M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Rangebank BESS (75%), Koorangie Energy Storage System (73%), Melbourne Renewable Energy Hub Connection A2 (70%). At the other end: Bulgana Green Power Hub (16%), Pine Lodge BESS (4%), Mornington BESS (3%) — capture reflects strategy, contracting and constraints as much as skill, so a low figure is not automatically underperformance.
The strongest single day was 2 Sep 2026 at $415k, and the best single battery-day was Melbourne Renewable Energy Hub Connection A3 on 3 Sep 2026 with $89k.
Melbourne Renewable Energy Hub Connection A3 led the region with $575k. Full dispatch, state-of-charge and bidding detail is available on each battery's page.
| Battery | Energy + FCAS | $/MW | $/MWh | Capture |
|---|---|---|---|---|
| Melbourne Renewable Energy Hub Connection A3 | $575k | $2,874/MW | $718/MWh | 70% |
| Mortlake Battery Energy Storage System | $364k | $1,212/MW | $560/MWh | 61% |
| Melbourne Renewable Energy Hub Connection A2 | $338k | $1,690/MW | $845/MWh | 70% |
| Melbourne Renewable Energy Hub Connection A1 | $327k | $1,634/MW | $817/MWh | 65% |
| Koorangie Energy Storage System | $308k | $1,663/MW | $832/MWh | 73% |
| Victorian Big Battery | $233k | $775/MW | $517/MWh | 50% |
| Terang BESS | $184k | $1,842/MW | $921/MWh | 66% |
| Latrobe Valley BESS | $161k | $1,614/MW | $807/MWh | 66% |
| Rangebank BESS | $136k | $679/MW | $340/MWh | 75% |
| Hazelwood Battery Energy Storage System | $96k | $643/MW | $643/MWh | 54% |
| Gannawarra Energy Storage System | $19k | $620/MW | $373/MWh | 58% |
| Bulgana Green Power Hub | $14k | $687/MW | $404/MWh | 16% |
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: August 2026NEM-wide wrap — September 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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