# Snowy 2.0: Billion Dollar Energy Bet

Page: https://stenobird.com/podcast/sydney-news-today-2-min-news-the-daily-news-now-7568669/snowy-2-0-billion-dollar-energy-bet
Text version: https://stenobird.com/podcast/sydney-news-today-2-min-news-the-daily-news-now-7568669/snowy-2-0-billion-dollar-energy-bet.md
Podcast: [Sydney News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/sydney-news-today-2-min-news-the-daily-news-now-7568669)
Published: 2026-06-02T21:14:43+00:00
Episode link: https://api.fastcast.ai/audio/f24c673b-1bc1-4b22-8323-0db5a94a55b4.mp3
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JSON: https://stenobird.com/v1/public/podcasts/sydney-news-today-2-min-news-the-daily-news-now-7568669/episodes/snowy-2-0-billion-dollar-energy-bet
Duration seconds: 118

## Resource

Australia’s Snowy 2.0 mega-project, billed as the nation’s largest energy initiative, is finally breaking ground—but at a staggering cost. Originally budgeted at $2 billion in 2017, the project now faces an estimated $12 billion price tag, ballooning by $3 million per day. Tunneling machines have cleared a key rock barrier, paving the way for construction of a 27-kilometer underground tunnel designed to store renewable energy like a giant battery. When complete, it’ll power three million homes for a week. But delays from bushfires, COVID-19, and a stuck tunnel boring machine costing $2 billion alone have plagued progress. Safety concerns, toxic gas leaks, tunnel collapses, and executive bonuses amid missed targets have fueled public outrage. While some hail it as world-class innovation, others question its viability against rapidly advancing battery tech. With a new audit looming, the government remains committed—despite mounting doubts about whether it’s truly worth the money. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/fb2e7f622a9d0c20

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