How Victoria's grid-scale batteries performed in Q4 2026: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
Victoria (VIC1) batteries earned $100k in estimated gross energy and FCAS market revenue so far in Q4 2026, from 9 grid-scale units tracked by NEMPulse. Figures cover Q4 2026 to date (through 1 Oct 2026).
Normalised across 1,555 MW and 3,260 MWh of registered capacity, the region earned $64/MW and $31/MWh for the period.
Total revenue was up 14% on the same days of Q3 2026, which returned $88k. Per MW per day — which strips out both fleet growth and the length of the window — earnings were up 26% at $64/MW/day. Optimal capture slipped 19 points, from 36% to 17%.
Energy arbitrage supplied 94% of the total and FCAS 5%, with estimated Frequency Performance Payments contributing the remaining 1% ($204). Within FCAS, regulation accounted for 89% and contingency 11%; the single largest market was raise regulation at $4k.
Against the perfect-foresight energy benchmark, Victoria batteries captured 17% of what hindsight would have earned, an estimated $457k of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Mornington BESS (100%), Rangebank BESS (44%), Koorangie Energy Storage System (40%). At the other end: Victorian Big Battery (-3%), Melbourne Renewable Energy Hub Connection A3 (-15%), Hazelwood Battery Energy Storage System (-63%) — capture reflects strategy, contracting and constraints as much as skill, so a low figure is not automatically underperformance.
The strongest single day was 1 Oct 2026 at $100k, and the best single battery-day was Mornington BESS on 1 Oct 2026 with $36k.
Mornington BESS led the region with $36k. Full dispatch, state-of-charge and bidding detail is available on each battery's page.
| Battery | Energy + FCAS | $/MW | $/MWh | Capture |
|---|---|---|---|---|
| Mornington BESS | $36k | $148/MW | $60/MWh | 100% |
| Rangebank BESS | $35k | $174/MW | $87/MWh | 44% |
| Koorangie Energy Storage System | $28k | $154/MW | $77/MWh | 40% |
| Latrobe Valley BESS | $8k | $79/MW | $40/MWh | 25% |
| Melbourne Renewable Energy Hub Connection A1 | $7k | $36/MW | $18/MWh | 14% |
| Mortlake Battery Energy Storage System | $6k | $21/MW | $10/MWh | 8% |
| Melbourne Renewable Energy Hub Connection A2 | $6k | $28/MW | $14/MWh | 12% |
| Terang BESS | $2k | $16/MW | $8/MWh | 2% |
| Gannawarra Energy Storage System | $281 | $9/MW | $6/MWh | — |
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: Q3 2026NEM-wide wrap — Q4 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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