Snowy Hydro ups Generation Output
Source: The Age, 3 October 2016
Continued high levels of rainfall, particularly over the next few days, ahead of the inflow from melting snow in the coming weeks will enable Snowy Hydro to maximise power generation in the year ahead after an unusually busy year.
In particular, with forecasts for up to 150 millimetres of rain over the Labour Day long weekend and the outlook for normal rainfall patterns over the balance of the year, the power company anticipates being able to lift earnings in the new financial year.
"It's a one-in-10-year weather event," Snowy Hydro chief executive Paul Broad said. "We held back generation in 2015 and generated hard this year."
Underpinning the lift in earnings was a surge in electricity generated, to 4,851 gigawatt hours from 2,605 gigawatt hours a year earlier, thanks to the earlier decision to harbour its water inflows to maximise generation at times of higher wholesale electricity prices.
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