How Victoria's grid-scale batteries performed in 2026: energy and FCAS market revenue, $/MW, $/MWh, top performers, and price events.
Victoria (VIC1) batteries earned $62.92M in estimated gross energy and FCAS market revenue so far in 2026, from 15 grid-scale units tracked by NEMPulse. Figures cover 2026 to date (through 30 Oct 2026).
Normalised across 2,260 MW and 4,736 MWh of registered capacity, the region earned $28k/MW and $13k/MWh for the period.
Energy arbitrage supplied 96% of the total and FCAS 3%, with estimated Frequency Performance Payments contributing the remaining 1% ($580k). Within FCAS, regulation accounted for 88% and contingency 12%; the single largest market was raise regulation at $1.47M.
For context on the trading conditions, the average daily price spread (top two hours minus bottom two hours) in Victoria was $122/MWh, and the highest spot price reached $19,070/MWh.
Against the perfect-foresight energy benchmark, Victoria batteries captured 57% of what hindsight would have earned, an estimated $45.55M of unrealised upside.
On capture of the perfect-foresight energy benchmark, the strongest performers were Melbourne Renewable Energy Hub Connection A3 (67%), Terang BESS (65%), Rangebank BESS (60%). At the other end: Ballarat Battery Energy Storage System (36%), Bulgana Green Power Hub (32%), Pine Lodge BESS (-4%) — 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 $2.50M, and the best single battery-day was Rangebank BESS on 8 Jul 2026 with $675k. Revenue stays concentrated: five of the period's 303 days delivered 10% of everything Victoria batteries earned.
3 batteries earned their first market revenue in the period — Mortlake Battery Energy Storage System, Terang BESS, Mornington BESS — adding 640 MW of earning capacity.
Melbourne Renewable Energy Hub Connection A3 led the region with $14.90M. Full dispatch, state-of-charge and bidding detail is available on each battery's page.
Victoria saw 24 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 | $14.90M | $74k/MW | $19k/MWh | 67% |
| Melbourne Renewable Energy Hub Connection A2 | $7.98M | $40k/MW | $20k/MWh | 59% |
| Melbourne Renewable Energy Hub Connection A1 | $7.95M | $40k/MW | $20k/MWh | 59% |
| Rangebank BESS | $7.56M | $38k/MW | $19k/MWh | 60% |
| Koorangie Energy Storage System | $7.09M | $38k/MW | $19k/MWh | 59% |
| Victorian Big Battery | $5.54M | $18k/MW | $12k/MWh | 40% |
| Latrobe Valley BESS | $3.80M | $38k/MW | $19k/MWh | 57% |
| Hazelwood Battery Energy Storage System | $2.72M | $18k/MW | $18k/MWh | 50% |
| Mortlake Battery Energy Storage System | $1.65M | $5,503/MW | $2,540/MWh | 46% |
| Terang BESS | $1.35M | $13k/MW | $6,746/MWh | 65% |
| Mornington BESS | $924k | $3,850/MW | $1,566/MWh | 53% |
| Bulgana Green Power Hub | $509k | $25k/MW | $15k/MWh | 32% |
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 — 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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