Two years ago, Snowy Hydro announced a reset for its troubled Snowy 2.0 giant pumped hydro project amid cost blowouts. The supposed final cost was A$12 billion.
Last week, Snowy Hydro acknowledged this figure was no longer viable after a cost reassessment.
I estimate the final cost will be well over $20 billion, excluding new transmission lines – more than ten times higher than the original estimate of $2 billion.
