Australian Parliament to audit Snowy Hydro 2.0 management

The Joint Committee of Public Accounts and Audit (JCPAA) will launch an inquiry into the management of the Snowy Hydro 2.0 infrastructure project. The audit follows a major project ‘reset’ in August 2023, which saw the estimated cost rise to $12 billion and the completion date delayed to 2028.

Committee Chair Josh Burns stated that while the project is vital for Australia’s energy future, it has faced significant delays, rising costs, and performance issues. The inquiry aims to examine Snowy Hydro Limited’s management over the last three years, specifically focusing on cost forecasting, schedule and risk management, and contractor oversight.

The investigation will also consider findings from a separate audit conducted by the Australian National Audit Office (ANAO). The committee intends to identify lessons for other large-scale public infrastructure projects and ensure strong governance to protect Australian taxpayers from financial risks.