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Snowy Hydro also owns and operates two gas-fired power stations in Victoria and one in New South Wales, three diesel power stations in South Australia, and owns two electricity retailing businesses (Red Energy and Lumo Energy).Why is Snowy Hydro important to the industry?
Snowy Hydro already plays a critical role in ensuring system stability and at times of peak demand, we keep the lights on. Snowy 2.0 will enhance our existing capability and ensure that we can continue to provide increased stability and security to the energy market well into the future.Who is the owner of Snowy Mountains Hydro?
The company is owned by the Australian Federal government and whilst not a statutory corporation, is established by the Snowy Mountains Hydro-electric Power Act 1949 (Cth). Prior to its incorporation under the Corporations Act 2001 (Cth), the company was previously known as Snowy Mountains Hydro-electric Authority.How does Snowy 2.0 water pump system work?
Snowy 2.0 will pump water using the excess electricity in the system at times of low demand. Then, when energy is needed most, the stored water will be used to generate electricity within minutes.