How Victoria's grid-scale batteries performed in Q2 2026: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
Victoria (VIC1) batteries earned $13.57M in estimated gross energy and FCAS market revenue in Q2 2026, from 12 grid-scale units tracked by NEMPulse. Figures cover the full period.
Normalised across 1,620 MW and 3,296 MWh of registered capacity, the region earned $8,375/MW and $4,116/MWh for the period.
Total revenue was down 26% on Q1 2026, which returned $18.32M. Per MW per day — which strips out both fleet growth and the length of the window — earnings were down 27% at $92/MW/day. Optimal capture slipped 3 points, from 58% to 55%.
Energy arbitrage supplied 94% of the total and FCAS 5%, with estimated Frequency Performance Payments contributing the remaining 1% ($153k). Within FCAS, regulation accounted for 91% and contingency 9%; the single largest market was raise regulation at $495k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in Victoria was $99/MWh, down 23% on the previous period, and the highest spot price reached $450/MWh.
Against the perfect-foresight energy benchmark, Victoria batteries captured 55% of what hindsight would have earned, an estimated $10.30M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Melbourne Renewable Energy Hub Connection A3 (68%), Melbourne Renewable Energy Hub Connection A2 (64%), Melbourne Renewable Energy Hub Connection A1 (63%). At the other end: Terang BESS (-9%), Mortlake Battery Energy Storage System (-71%), Mornington BESS (-93%) — capture reflects strategy, contracting and constraints as much as skill, so a low figure is not automatically underperformance.
The strongest single day was 15 Apr 2026 at $399k, and the best single battery-day was Melbourne Renewable Energy Hub Connection A3 on 22 Jun 2026 with $133k. Revenue stays concentrated: five of the period's 91 days delivered 14% of everything Victoria batteries earned.
Melbourne Renewable Energy Hub Connection A3 led the region with $3.37M. Full dispatch, state-of-charge and bidding detail is available on each battery's page.
Victoria saw one price event this period, negative pricing bottoming at $-615/MWh.
| Battery | Energy + FCAS | $/MW | $/MWh | Capture |
|---|---|---|---|---|
| Melbourne Renewable Energy Hub Connection A3 | $3.37M | $17k/MW | $4,215/MWh | 68% |
| Melbourne Renewable Energy Hub Connection A2 | $1.83M | $9,144/MW | $4,572/MWh | 64% |
| Melbourne Renewable Energy Hub Connection A1 | $1.79M | $8,927/MW | $4,464/MWh | 63% |
| Rangebank BESS | $1.67M | $8,360/MW | $4,180/MWh | 55% |
| Koorangie Energy Storage System | $1.65M | $8,929/MW | $4,464/MWh | 57% |
| Victorian Big Battery | $1.56M | $5,191/MW | $3,461/MWh | 40% |
| Latrobe Valley BESS | $1.01M | $10k/MW | $5,044/MWh | 59% |
| Hazelwood Battery Energy Storage System | $569k | $3,790/MW | $3,790/MWh | 43% |
| Bulgana Green Power Hub | $162k | $8,122/MW | $4,778/MWh | 30% |
| Gannawarra Energy Storage System | $112k | $3,722/MW | $2,240/MWh | 36% |
| Ballarat Battery Energy Storage System | $88k | $2,926/MW | $2,926/MWh | 35% |
| Phillip Island BESS | $65k | $13k/MW | $5,483/MWh | 39% |
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 — Q2 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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