The gods condemned Sisyphus to roll a boulder up a hill for eternity. Australians have been handed a much crueller punishment: to pump water up a mountain, forever, paid for with borrowed money.
Last week Snowy Hydro finally released its overdue Snowy 2.0 cost reassessment. The project, unveiled by Malcolm Turnbull in 2017 and projected to cost $2 billion, is now targeted to cost $22.2 billion, although Snowy is allowing for $25 billion. Completion has slipped to 2029, eight years late.
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