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, resulting in lower profits.
The company's underlying net profit fell to $399.7 million in the 2024/25 financial year, down from $522.8 million the previous year.
“Hard to defend:
Snowy Hydro blamed network upgrades needed to accommodate the country's most powerful battery for the decline in profits.
- Underlying net profit: $399.7 million (FY 2025)
- Previous year's profit: $522.8 million
Snowy Hydro's annual report for the 2024/25 financial year was published quietly, following a major cost blowout in the Snowy 2.0 pumped hydro project.
Author's summary: Snowy Hydro's profits decline due to battery constraints.
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