Snowy Hydro 2.0 flags another cost blowout with $12bn price tag now considered unachievable

<p>Pumped hydro project in Kosciuszko national park is 67% complete, but supply chain cost increases and issues with a borer have caused cost overrun</p><ul><li><p><a href="https://www.theguardian.com/australia-news/live/2025/oct/03/png-agreement-aukus-submarines-pact-anthony-albanese-richard-marles-retired-admiral-slams-aukus-deal-gaza-flotilla-intercepted-ntwnfb">Follow our Australia news live blog for latest updates</a></p></li><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p>Snowy Hydro is preparing for another significant cost overrun on the massive Snowy 2.0 project in the Kosciuszko national park, with a line-by-line reassessment ordered from contractors on Friday.</p><p>The giant pumped hydro project, first touted by <a href="https://www.theguardian.com/australia-news/2017/mar/16/turnbull-2bn-snowy-hydro-electric-expansion">the Turnbull government in 2017</a> as costing $2bn, was later revised to a cost of $5.9bn. Escalating to almost $13bn in 2023, construction is due to be completed by the end of 2028.</p> <a href="https://www.theguardian.com/environment/2025/oct/03/snowy-hydro-20-flags-another-cost-blowout-with-12bn-price-tag-now-considered-unachievable">Continue reading...</a>