Overview

• Snowy Hydro says costs will exceed the previous $12 billion estimate and it will seek extra funding after the reassessment.
• Future Generation Joint Venture has been directed to deliver a line-by-line cost review expected to take up to nine months.
• The company reports the project is about 67% complete and still targeting a December 2028 completion date.
• Snowy Hydro cites missed productivity targets, higher supply-chain costs, and a $75 million fourth tunnel boring machine as key pressures.
• Recent pay rises for tunnel workers and earlier tunnelling setbacks have compounded costs on the pumped hydro scheme in Kosciuszko National Park.