New revelations confirm that Snowy 2.0 is an environmental and economic disaster. The NSW and Commonwealth were warned that the Business Case for the massive industrial development in Kosciuszko National Park was flawed. Today thirty-seven eminent Australian energy, engineering, economic and environmental experts have shown how emerging information confirms that Snowy 2.0 should never have been approved and, if constructed, will be a $10 billion White Elephant.
The experts assert in an Open Letter to the Prime Minister and NSW Premier “Recent information confirms that the Snowy 2.0 Business Case, issued nearly two years ago, was based on grossly inflated revenues and understated costs. Put simply, the Commonwealth Government was presented with a profoundly flawed justification.”
The experts draw upon recently released projections by the Australian Energy Market Operator, which demonstrate that Snowy 2.0 could never pay for itself and is not needed till the 2030’s, by when emerging technologies (including batteries, demand response, virtual power plants and hydrogen) will have taken the lead on cost, efficiency and ease of operational deployment.
Shockingly, more than a billion dollars of public funds has already been wasted. Nonetheless, as the nation slides into a pandemic induced recession, there is still the opportunity to save the other nine plus billion of Australian taxpayers’ and electricity consumers’ money that would otherwise be wasted by this inefficient, unnecessary and damaging project.
The experts conclude “recent information confirms that Snowy 2.0 is not critical, not viable, uncompetitive, wasteful and will devastate vast areas of Kosciuszko National Park and beyond. We again urge the Commonwealth and NSW governments to undertake an independent expert review of Snowy 2.0, before it is too late.”
ENDS
Media Contacts:
Gary Dunnett, Executive Officer NPA 9299 0000
Other signatories available to speak to the media upon request
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