18 months ago, we asked whether the Snowy Hydro 2.0 – a pet project of former Prime Minister Malcolm Turnbull – was an expensive “white elephant”:
More power storage is a good idea. But whether this project is a good way to achieve it remains debatable. The ABC produced an excellent analysis of the pros and cons back in March 2017, which is well worth a read.
The cost of this project is currently estimated between $3.8 billion and $4.5 billion, but will likely grow. Additionally, by the time the project comes on-stream, battery power is likely to be very cheap:
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
