Snowy bosses paid $1.2m in bonuses as hydro project costs spiral
Snowy Hydro executives received over $1.2 million in bonuses despite significant cost overruns on the Snowy 2.0 project. Chief executive Dennis Barnes was awarded a $323,000 bonus, while other executives collectively received $919,000. The project, initially expected to cost $2 billion, has ballooned to $12 billion and is now years behind schedule.
- ▪Snowy Hydro's chief executive Dennis Barnes received a $323,000 bonus last financial year.
- ▪The total bonuses for four other senior executives amounted to $919,000.
- ▪Snowy 2.0's costs have exceeded the original budget by billions, with further cost assessments underway.
Opening excerpt (first ~120 words) tap to expand
Snowy Hydro bosses paid more than $1.2m in bonuses as renewables project costs spiralBy senior political correspondent Jake EvansTopic:Public ServiceFri 22 May 2026 at 4:47amFri 22 May 2026 at 4:47amFri 22 May 2026 at 4:47amSnowy Hydro chief executive Dennis Barnes is one of the highest-paid public servants in Australia. (ABC News: Isla Evans)In short:Snowy chief executive Dennis Barnes was paid a $323,000 bonus, and four other senior executives a total $919,000 in bonuses last financial year.A month later, Snowy Hydro revealed costs were spiralling even further for renewables mega project Snowy 2.0, which is years overdue.What's next?A review to determine cost blowouts beyond Snowy 2.0's $12 billion budget is…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).