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Story summary
- Snowy Hydro announced Snowy 2.0 pumped-hydro costs could rise to $25 billion.
- The project set a $22.2 billion target cost with an allowance up to $25 billion.
- Minister Chris Bowen and Minister Katy Gallagher said construction-sector pressure and geological challenges drove the cost growth.
- Commissioning has been pushed back to the end of 2029.
- CEO Dennis Barnes noted only 22 test cores were drilled for the 16-km tunnel, indicating design immaturity.