Media Statement: Pumped Hydro Costs

1 min

Snowy 2.0 project

Further to Australian Energy Market Operator’s (AEMO) stakeholder letter issued on Monday 27 April providing an update on the cost assumptions for the Final 2020 Integrated Systems Plan (ISP), AEMO wishes to clarify that the capital cost increases foreshadowed for pumped hydro projects do not apply to the Snowy 2.0 project.
This has resulted in misreporting by media outlets incorrectly linking cost increases to the Snowy 2.0 project.  AEMO has contacted these media outlets and understands that these incorrect statements have since been removed.
Contrary to what has been reported, the pumped hydro cost increases referred to in the ‘progress update on 2020 ISP’ only apply to future, and as yet uncommitted, pumped hydro projects in mainland Australia. 

Snowy 2.0 is a fully funded committed project and AEMO is not aware of any changes to the capital costs since the feasibility study in 2017. 

The Final 2020 ISP is expected to be released later this year. 

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