Snowy Hydro's Bidding Strategy Affected by Line Upgrades
Snowy Hydro has reported that line upgrades and constraints for Australia's most powerful battery hindered its bidding strategy, leading to lower profits.
“Hard to defend:
The company's underlying net profit fell to $399.7 million in FY 2025, from $522.8 million a year earlier, according to its annual report for the 2024/25 financial year.
Snowy Hydro blamed constraints caused by network upgrades needed to accommodate the country's most powerful battery for the decline in profits.
The company also flagged a major blowout in costs for the Snowy 2.0 pumped hydro project, with the full extent of the added costs to be determined in nine months.
Author's summary: Snowy Hydro's profits fell due to line upgrades and battery constraints.
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