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Snowy 2.0 cost blowout explodes in Senate as Dennis Barnes defends project and concedes major errors

Snowy Hydro chief executive Dennis Barnes has admitted the cost of Snowy 2.0 has blown out, saying "we got it wrong" during a Senate hearing. The revised target cost has risen to $22.2 billion, with an allowance for a $25 billion scenario, and full commissioning is now due in late 2029. Mr Barnes blamed poor design and missing scope, and said cancelling the project would make things worse. He also said the company will need government support by the middle of next year.

PerthNow Local· This weekPolitics

Costly Snowy energy project to 'outlast' us all

Federal Energy Minister Chris Bowen says the Snowy 2.0 project could now cost taxpayers up to $25 billion, up from $2 billion proposed in 2017. The project's completion has been pushed back to late 2029. Bowen said the scheme would supply power for 150 years and described the cost increase as very unfortunate. Geological challenges and early design decisions have been blamed for the rising costs. Bowen rejected opposition calls for his resignation and said the project would be completed.

PerthNow Local· This weekPolitics

Snowy costs blow out but there's light at end of tunnel

The cost of Snowy 2.0, the Snowy Mountains hydro-electric expansion, may now reach up to $25 billion. The project was priced at $2 billion when proposed in 2017. Its completion has been pushed back to late 2029. Energy Minister Chris Bowen says the project would still provide net benefits and blames geological challenges and early design decisions. Tunnelling is now 65 per cent complete. Opposition energy spokesperson Dan Tehan has called for Mr Bowen to resign, which he has refused.

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Snowy 2.0 cost blowout explodes in Senate as Dennis Barnes defends project and concedes major errors

Costly Snowy energy project to 'outlast' us all

Snowy costs blow out but there's light at end of tunnel

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Snowy 2.0 cost blowout explodes in Senate as Dennis Barnes defends project and concedes major errors

Costly Snowy energy project to 'outlast' us all

Snowy costs blow out but there's light at end of tunnel