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Massive Snowy 2.0 budget blowout comes with $1b wage bill

The Australian Financial Review (AFR) •
October 26, 2026 • 11:20 AM
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The expansion of the massive hydroelectric project was expected to cost around $2 billion when announced in 2017. Instead, it is heading toward $25b.

Massive Snowy 2.0 budget blowout comes with $1b wage bill

A significant payrise for workers building the Snowy 2.0 tunnel last year has added almost $1 billion to the cost of the massive hydroelectricity scheme expansion, where the total constrution bill could reach $25 billion.

The project, announced by the Turnbull government, has been significantly delayed and was originally expected to cost around $2 billion. Late on Monday, Snowy Hydro officials put the cost of a renegotiated workplace agreement signed in September last year at almost $1 billion.

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