Snowy Hydro's Bidding Strategy Impacted 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.
The company's underlying net profit fell to $399.7 million in the 2024/25 financial year, down from $522.8 million the previous year.
“Hard to defend:”
This decline is attributed to the constraints caused by network upgrades needed to accommodate the country's most powerful battery, which left Snowy unable to defend its own portfolio.
- Underlying net profit: $399.7 million (FY 2025)
- Previous year's profit: $522.8 million
Snowy Hydro quietly published its annual report for the 2024/25 financial year, following a major cost blowout in the Snowy 2.0 pumped hydro project.
Author's summary: Snowy Hydro's profits decline due to line upgrades and battery constraints.