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When the Snowy Hydro 2.0 project was first proposed by the Turnbull government in 2017, it was touted as a $2 billion endeavour that could produce power as early as 2021.
On paper, it sounded like a great idea: pumped hydro storage capable of delivering 2 megawatts of power on command and 350,000 megawatt-hours of storage, all at what appeared to be an affordable price.
Since then, the cost of the project has risen by more than 20 times its original sticker price, according to some estimates.
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About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.