Snowy Hydro's Bidding Strategy Affected by Line Upgrades
Snowy Hydro has reported that line upgrades and constraints for Australia's most powerful battery have hindered its bidding strategy, resulting in lower profits.
“Hard to defend:
The company's annual report for the 2024/25 financial year reveals a fall in underlying net profit to $399.7 million, down from $522.8 million in the previous year.
- Line upgrades and constraints affected Snowy Hydro's bidding strategy
- Underlying net profit fell to $399.7 million in FY 2025
- Previous year's profit was $522.8 million
Snowy Hydro is a federally owned company that has also faced cost blowouts for the Snowy 2.0 pumped hydro project.
Author's summary: Snowy Hydro's profits fell due to line upgrades and battery constraints.