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 $7.11M in estimated gross energy and FCAS market revenue in September 2026, from 15 grid-scale units tracked by NEMPulse. Figures cover the full period.
Normalised across 2,260 MW and 4,736 MWh of registered capacity, the region earned $3,147/MW and $1,502/MWh for the period.
Total revenue was up 17% on August 2026, which returned $6.07M. Per MW per day — which strips out both fleet growth and the length of the window — earnings were up 8% at $105/MW/day. Optimal capture improved 9 points, from 55% to 63%.
Energy arbitrage supplied 97% of the total and FCAS 2%, with estimated Frequency Performance Payments contributing the remaining 1% ($56k). Within FCAS, regulation accounted for 90% and contingency 10%; the single largest market was raise regulation at $124k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in Victoria was $111/MWh, broadly flat on the previous period, and the highest spot price reached $283/MWh.
Against the perfect-foresight energy benchmark, Victoria batteries captured 63% of what hindsight would have earned, an estimated $3.86M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Melbourne Renewable Energy Hub Connection A3 (73%), Terang BESS (71%), Melbourne Renewable Energy Hub Connection A2 (68%). At the other end: Bulgana Green Power Hub (43%), Mornington BESS (30%), Pine Lodge BESS (-7%) — 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 $424k, and the best single battery-day was Melbourne Renewable Energy Hub Connection A3 on 3 Sep 2026 with $92k. Revenue stays concentrated: five of the period's 30 days delivered 28% of everything Victoria batteries earned.
Melbourne Renewable Energy Hub Connection A3 led the region with $1.59M. 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 | $1.59M | $7,947/MW | $1,987/MWh | 73% |
| Melbourne Renewable Energy Hub Connection A2 | $870k | $4,348/MW | $2,174/MWh | 68% |
| Melbourne Renewable Energy Hub Connection A1 | $859k | $4,295/MW | $2,148/MWh | 66% |
| Victorian Big Battery | $715k | $2,384/MW | $1,589/MWh | 54% |
| Koorangie Energy Storage System | $710k | $3,835/MW | $1,918/MWh | 64% |
| Rangebank BESS | $551k | $2,757/MW | $1,378/MWh | 61% |
| Terang BESS | $511k | $5,112/MW | $2,556/MWh | 71% |
| Latrobe Valley BESS | $400k | $3,999/MW | $2,000/MWh | 65% |
| Mortlake Battery Energy Storage System | $357k | $1,188/MW | $549/MWh | 57% |
| Hazelwood Battery Energy Storage System | $317k | $2,110/MW | $2,110/MWh | 62% |
| Mornington BESS | $80k | $332/MW | $135/MWh | 30% |
| Bulgana Green Power Hub | $61k | $3,050/MW | $1,794/MWh | 43% |
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: 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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