How Victoria's grid-scale batteries performed in Q3 2026: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
Victoria (VIC1) batteries earned $9.70M in estimated gross energy and FCAS market revenue so far in Q3 2026, from 13 grid-scale units tracked by NEMPulse. Figures cover Q3 2026 to date (through 15 Aug 2026).
Normalised across 1,720 MW and 3,496 MWh of registered capacity, the region earned $5,637/MW and $2,774/MWh for the period.
Total revenue was up 13% on the same days of Q2 2026, which returned $8.58M. Per MW per day — which strips out both fleet growth and the length of the window — earnings were up 13% at $123/MW/day. Optimal capture slipped 20 points, from 65% to 45%.
Energy arbitrage supplied 97% of the total and FCAS 2%, with estimated Frequency Performance Payments contributing the remaining 1% ($63k). Within FCAS, regulation accounted for 90% and contingency 10%; the single largest market was raise regulation at $158k.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in Victoria was $156/MWh, up 60% 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 $10.90M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Terang BESS (71%), Rangebank BESS (61%), Koorangie Energy Storage System (58%). At the other end: Bulgana Green Power Hub (17%), Phillip Island BESS (15%), Pine Lodge BESS (-10%) — 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 46 days delivered 42% of everything Victoria batteries earned.
Melbourne Renewable Energy Hub Connection A3 led the region with $2.23M. 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 | $2.23M | $11k/MW | $2,787/MWh | 53% |
| Rangebank BESS | $1.76M | $8,796/MW | $4,398/MWh | 61% |
| Koorangie Energy Storage System | $1.60M | $8,634/MW | $4,317/MWh | 58% |
| Melbourne Renewable Energy Hub Connection A1 | $1.10M | $5,480/MW | $2,740/MWh | 37% |
| Melbourne Renewable Energy Hub Connection A2 | $1.07M | $5,336/MW | $2,668/MWh | 36% |
| Victorian Big Battery | $631k | $2,103/MW | $1,402/MWh | 27% |
| Latrobe Valley BESS | $606k | $6,059/MW | $3,030/MWh | 49% |
| Hazelwood Battery Energy Storage System | $289k | $1,923/MW | $1,923/MWh | 27% |
| Terang BESS | $246k | $2,459/MW | $1,230/MWh | 71% |
| Gannawarra Energy Storage System | $82k | $2,732/MW | $1,644/MWh | 37% |
| Bulgana Green Power Hub | $52k | $2,582/MW | $1,519/MWh | 17% |
| Ballarat Battery Energy Storage System | $38k | $1,274/MW | $1,274/MWh | 23% |
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: Q2 2026NEM-wide wrap — Q3 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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