Snowy 2.0 hydroelectric project's cost estimate rises to about $25 billion, with a wage agreement adding roughly $1 billion.

"Snowy 2.0 heading to about $25 billion; wage deal adds ~$1 billion" — AFR (Australian Financial Review) · Australia

26 Oct 2026Single source

What it means

Snowy 2.0 is Australia's large pumped-hydro expansion in the NSW Snowy Mountains, designed to store renewable energy. Its estimated cost has jumped again to around A$25 billion — roughly double earlier expectations — with close to $1 billion of that linked to a wage agreement for construction workers, and now pushed back to around the end of 2029. The fresh figures emerged as Snowy Hydro's CEO faced questioning at .

Accuracy & sourcesGrounded

The cost figure is a reported revision by Snowy Hydro, relayed by the AFR and corroborated by multiple Australian outlets, so the headline claim is solid — though 'about $25 billion' is a target/range rather than a final locked number, and one report cites a revised target cost of $22.2 billion before contingencies. The wage-deal attribution comes from AFR reporting of company and Senate statements.

Snowy 2.0 hydroelectric project's cost estimate rises to about $25 billion, with a wage agreement adding roughly $1 billion.

What it means

Accuracy & sourcesGrounded

How new

Go deeper