Snowy Hydro's Profit Decline
Snowy Hydro has reported a decline in profits due to constraints caused by network upgrades for Australia's most powerful battery.
The company's underlying net profit fell to $399.7 million in the 2024/25 financial year, from $522.8 million a year earlier.
“Hard to defend:”
Snowy Hydro's bidding strategy was hindered by line upgrades and constraints, leaving it unable to defend its portfolio and contributing to lower profits.
- Annual report reveals a decline in underlying net profit.
- Network upgrades for the country's most powerful battery caused constraints.
- Snowy 2.0 pumped hydro project faces another major cost blowout.
Author's summary: Snowy Hydro's profits declined due to battery-related network upgrades.