Snowy Hydro 2.0 descends further into farce

When former Prime Minister Malcolm Turnbull first announced Snowy Hydro 2.0 pumped hydro project in 2017, it was billed as a $2 billion project capable of producing 2 megawatts of power on demand and 350,000 megawatt-hours of storage by 2021.

Snowy Hydro 2.0 has been delayed several times since its announcement, with expenditures forecast to reach $12 billion by August 2023.

Professor Bruce Mountain and former energy executive Ted Woodley predicted that Snowy Hydro 2.0 might eventually cost $42 billion, which includes $20 billion in direct building costs, $12 billion in transmission infrastructure expenses, and $8 billion in interest charges over 15 years.