Australia floats $1.5 billion hydro upgrade to help plug power gap

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The Australiangovernment said on Thursday it may spend up to A$2 billion ($1.
5 billion) to expand a huge hydro power scheme to help solve an energy crisis, although the main owners of the dam have yet to be consulted.
The announcement was made without consulting the biggest shareholders in Snowy Hydro, the state governments of Victoria and New South Wales, and scientists said it could damage the sensitive environment around Australia`s highest mountain.
The 2,000 megawatt expansion of the Snowy Hydro scheme could power the equivalent of 500,000 homes and meet demand in peak periods in the eastern states, Energy Minister Josh Frydenberg told the Australian Broadcasting Corp.
on Thursday.
"The cost will run into the billions of dollars but the Prime Minister has made very clear that we will make all steps necessary to ensure energy security," Frydenberg said.
The plan so far is just for a feasibility study to be completed by the end of this year.

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