Battery energy storage is rapidly becoming a cornerstone of Australia’s evolving electricity system. As the National Electricity Market (NEM) transitions to accommodate rising renewable penetration, new policy mechanisms, and famously volatile prices, batteries are taking on a broader range of roles, from firming and arbitrage to frequency control and capacity support. But developing and operating storage in this environment requires more than just technology. It calls for strategic decision-making across commercial, technical, and market dimensions.In this episode, Wendel is joined by Eku Energy’s Chief Technology Officer – Elias Saba. The conversation explores how project developers like Eku are approaching duration and sizing, managing merchant risk, accessing FCAS revenues, and navigating the emerging capacity market landscape. We also look at how international experience can inform decision-making in Australia. Key insights include:

• Why the NEM is a proving ground for batteries: The opportunities and risks of operating in a high-volatility, high-renewables environment.
• Duration and design choices: How CapEx trends, price signals, and regulatory uncertainty are shaping battery configurations.
• Revenue stacking in practice: Merchant trading, FCAS markets, and the role of contracting in stabilising returns.
• Global context, local application: Lessons from other advanced markets and how they translate to the Australian grid.
• Building for scale: The internal capabilities and strategic frameworks required to run a high-performing storage business.

About our guestElias Saba is the Chief Technology Officer and a founding team member at Eku Energy, a global battery storage developer and operator with active projects across Australia, Japan, Italy, and the UK. At Eku, Elias leads technical strategy, project optimisation, and market integration across multiple jurisdictions. His work sits at the intersection of engineering, commercial strategy, and energy market operations shaping how large-scale batteries are deployed and monetised in complex and fast-moving grid environments. For more information, head to their website.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market – and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.