Snowy Hydro's Profit Decline
Snowy Hydro has reported a decline in profits due to constraints caused by network upgrades for Australia's most powerful battery, hindering its bidding strategy.
“Hard to defend:”
The company's underlying net profit fell to $399.7 million in FY 2025, from $522.8 million a year earlier. This decline is attributed to line upgrades and constraints for the battery, leaving Snowy unable to defend its 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 for the Snowy 2.0 pumped hydro project.
Author's summary: Snowy Hydro's profits decline due to battery constraints.