As the variable renewable energy share keep on increasing throughout the energy transition, power systems require more and different flexibility measures. Battery energy storage can provide these essential services that enable the energy system to carbonise and transform on short time scales. Energy arbitrage, the trading of electricity on the electricity markets, can create economic value for batteries. This research assesses the energy arbitrage opportunities for utility-scale battery energy storage in the Netherlands. It compares five different battery technologies and defines the optimal size and power capacity with a linear mixed-integer Matlab optimization model. Furthermore, the operation of for the most optimal technology is simulated for one year with a Model Predictive Control algorithm to be able to compare the effects of forecasting accuracy of the electricity prices on the estimated profits. The results show that according to optimized planning and dispatch in the operation of a battery system can lead to financial opportunities in the Netherlands regarding energy arbitrage for flow batteries. If not today, then in the future. It has been shown that towards 2030 the business case for battery energy storage will significantly increase due to decreasing capital costs and increasing price volatility with the rise of the VRES and phase-out of fossil energy sources. With this research, a contribution is delivered towards the realisation of commercially operating an independent utility-scale battery energy storage facility. Insights are provided on what battery configuration is best suited for energy arbitrage purposes and the effectiveness of simulating the optimized operation of a battery facility with a model predictive control method has been shown. This has lead to clearer insights into the profitability of operating a BESF in the Netherlands.