CEO of Australia’s biggest hydro project hits back at critics: ‘Bloody hard’Pauline Hanson has led the charge amid warnings even a forthcoming revised cost estimate may blow out.3 min read

7NEWS

Sep 20

Snowy Hydro has hit back at claims a critical tunnel boring machine has broken down further delaying Australia’s largest pumped hydro project. The claims come as the energy company prepares to release...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.itiger.com/news/2668869561"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2668869561\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2668869561?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-09-20 00:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2668869561","market":"us","top_or_hot":-1,"title":"CEO of Australia’s biggest hydro project hits back at critics: ‘Bloody hard’Pauline Hanson has led the charge amid warnings even a forthcoming revised cost estimate may blow out.3 min read","media":"7NEWS","content":"<div>\n<p>Snowy Hydro has hit back at claims a critical tunnel boring machine has broken down further delaying Australia’s largest pumped hydro project.\nThe claims come as the energy company prepares to release...</p>\n\n<a href=\"https://7news.com.au/podcasts/snowy-hydro-ceo-dennis-barnes-hits-back-at-pauline-hanson-other-critics-amid-cost-blowout-and-maintenance-issues-c-22898514\">Source Link</a>\n\n</div>\n","source":"7news_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CEO of Australia’s biggest hydro project hits back at critics: ‘Bloody hard’Pauline Hanson has led the charge amid warnings even a forthcoming revised cost estimate may blow out.3 min read</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCEO of Australia’s biggest hydro project hits back at critics: ‘Bloody hard’Pauline Hanson has led the charge amid warnings even a forthcoming revised cost estimate may blow out.3 min read\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-20 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://7news.com.au/podcasts/snowy-hydro-ceo-dennis-barnes-hits-back-at-pauline-hanson-other-critics-amid-cost-blowout-and-maintenance-issues-c-22898514><strong>7NEWS</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Snowy Hydro has hit back at claims a critical tunnel boring machine has broken down further delaying Australia’s largest pumped hydro project.\nThe claims come as the energy company prepares to release...</p>\n\n<a href=\"https://7news.com.au/podcasts/snowy-hydro-ceo-dennis-barnes-hits-back-at-pauline-hanson-other-critics-amid-cost-blowout-and-maintenance-issues-c-22898514\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VAS.AU","symbol_name":"VANGUARD AUST SHARES IDX ETF","start_time":0,"source_url":"https://7news.com.au/podcasts/snowy-hydro-ceo-dennis-barnes-hits-back-at-pauline-hanson-other-critics-amid-cost-blowout-and-maintenance-issues-c-22898514","article_id":"2668869561","we_media_id":null,"thumbnails":[],"rights":{"source":"7news_stock","url":"https://7news.com.au/podcasts/snowy-hydro-ceo-dennis-barnes-hits-back-at-pauline-hanson-other-critics-amid-cost-blowout-and-maintenance-issues-c-22898514","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2668869561","pubTimestamp":1789833600,"columns":[],"sourceInfo":{"source_id":"7news_stock","name":"7NEWS"},"weMediaInfo":null,"summary":"Snowy Hydro has hit back at claims a critical tunnel boring machine has broken down further delaying Australia’s largest pumped hydro project.The claims come as the energy company prepares to release a revised cost estimate and timetable for ‘Snowy Two’ after years in which the project’s original forecasts have repeatedly blown out.WATCH THE FULL EPISODE BELOW: The billion-dollar project Australia can’t affordKnow the news with the 7NEWS app: Download today ArrowA report in The Australian suggests Tunnel Boring Machine  ‘Florence’, which is excavating the project’s 17km headrace tunnel, ‘has been stalled deep underground for more than three months.’。Barnes agrees it’s costly — until it is compared with any of the alternatives.A renewable firmed grid backed by pumped hydro is ‘just wildly less expensive than nuclear,’ he says, comparing the current plan with the option favoured by One Nation.A huge amount of money rests on Barnes and his team keeping their TBMs boring through the Snowys","collect":0,"end_time":0,"defaultTopTitle":"7news.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"VAS.AU":"VANGUARD AUST SHARES IDX ETF","OZF.AU":"SPDR S&P/ASX 200 FINANCIALS","IMLC.AU":"INV MUTUAL CONC AUS SHAR ETF","OZR.AU":"SPDR S&P/ASX 200 RESOURCES F","CTEX":"ProShares S&P Kensho Cleantech ETF","IIGF.AU":"Intelligent Investor Australian Equity Growth Fund (Managed Fund)","E200.AU":"SPDR S&P/ASX 200 ESG FUND","GEAR.AU":"BETASHARES GEARED AUS EQTY F","GIVE.AU":"PERPETUAL ESG AU SHR EQMF","IISV.AU":"INTELL INV SELVAL SHR FD MF","XAO.AU":"标普/澳交所 普通股指数","BBOZ.AU":"BETASHARES AUSTRALIAN STRONG BEAR (HEDGE FUND)","XJO.AU":"标普/澳交所 200指数","XKO.AU":"标普/澳交所 300指数","STW.AU":"SPDR® S&P/ASX 200 ETF","QFN.AU":"BetaShares Australian Fincls Sect ETF","IOZ.AU":"iShares Core S&P/ASX 200","BEAR.AU":"BETASHARES AUS EQ BEAR HF","DACE.AU":"DIMENSIONAL AUST CORE EQ","QRE.AU":"BetaShares Australian Res Sect ETF","SLF.AU":"SPDR S&P/ASX 200 LISTED PROP","EIGA.AU":"EINVEST INCOME GENERATOR FD","VAP.AU":"VANGUARD AU PROP SEC IDX ETF","ZYAU.AU":"Etfs S&p/asx 300 High Yield Plus Etf"},"translate_title":"澳大利亚最大水电项目首席执行官回击批评者： 宝琳-汉森（Pauline Hanson）带头发起冲击，有人警告说，即使是即将修订的成本估算也可能失败。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GIVE.AU":0.6,"XAO.AU":1.5,"DACE.AU":0.6,"E200.AU":0.6,"IISV.AU":0.6,"XJO.AU":1.5,"OZR.AU":0.6,"QRE.AU":0.6,"STW.AU":0.6,"EIGA.AU":0.6,"XKO.AU":1.5,"IIGF.AU":0.6,"VAS.AU":0.6,"BEAR.AU":0.6,"VAP.AU":0.6,"OZF.AU":0.6,"QFN.AU":0.6,"ZYAU.AU":0.6,"BBOZ.AU":0.6,"SLF.AU":0.6,"CTEX":1.5,"GEAR.AU":0.6,"IMLC.AU":0.6,"IOZ.AU":0.6},"content_text":"Snowy Hydro has hit back at claims a critical tunnel boring machine has broken down further delaying Australia’s largest pumped hydro project.\nThe claims come as the energy company prepares to release a revised cost estimate and timetable for ‘Snowy Two’ after years in which the project’s original forecasts have repeatedly blown out.WATCH THE FULL EPISODE BELOW: The billion-dollar project Australia can’t affordKnow the news with the 7NEWS app: Download today ArrowA report in The Australian suggests Tunnel Boring Machine (TBM) ‘Florence’, which is excavating the project’s 17km headrace tunnel, ‘has been stalled deep underground for more than three months.’\nA spokesman for Snowy Hydro has acknowledged in a statement to 7NEWS that Florence has been idle since mid-July, but for ‘planned maintenance’ and ‘refurbishment works on its cutterhead’.\nThe work on the giant boring machine “is expected to conclude by mid-October, after which tunnelling will resume.”\nSnowy Hydro says Florence is 49 per cent of the way through its journey to complete the headrace tunnel.\nInitially expected to cost $2 billion dollars to build, Snowy Two has long since blown its budget.\nThe current costing is $12 billion, but the company plans to make a new estimate public within weeks. There is speculation the project cost will climb to about $20 billion.\nCritical to the calculation is the performance of the tunnel boring machines.\nBe the first to know: Add 7NEWS as your preferred news source on GoogleIn an interview with 7NEWS podcast The Issue, Snowy Hydro CEO Dennis Barnes acknowledges that the fickle business of boring through mountains could cruel even the new cost estimate.\n“We’re building a power station in the middle of a mountain with 40km of tunnel,” he said. “And it’s been bloody hard, I can assure you.”\nBarnes is especially nervous about an 800m underground stretch known as the ‘Long Plain Fault Zone’, through which one of the TBMs — ‘Monica’ — must bore Snowy Two’s headrace tunnel, in mid-2027.“If you really stick a tunnel boring machine and the mountain squeezes in on the tunnel boring machine, then that could be months or years to unstick,” he said.\n“(We’re) going through the geological fault that created the Snowy Mountains. And until we really get into it, we won’t know. So, yeah, there are nerves associated with that.”\nWith costs rising and threats ahead, critics are circling.\n“Cancel it. Cut our losses,” One Nation’s Pauline Hanson recently told the National Press Club.Snowy Two, she says, is “nothing more than a black hole of debt for taxpayers.”\nBarnes agrees it’s costly — until it is compared with any of the alternatives.A renewable firmed grid backed by pumped hydro is ‘just wildly less expensive than nuclear,’ he says, comparing the current plan with the option favoured by One Nation.A huge amount of money rests on Barnes and his team keeping their TBMs boring through the Snowys, but if he’s right, the fraught business of tunnelling is part of the cheapest option for powering Australia.Man dies after couple allegedly doused in petrol by spurned former lover2 min readDetails emerge after child found with stab wounds dies, two fight for life2 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}