Snowy Hydro 2.0 has blown out to 12 times its original cost – but the CEO says it ‘could have been worse’
New projections by the Snowy Hydro company show tunnelling work is now 65% finished, but the completion date has been pushed back to 2029 * Get our breaking news email, free app or daily news podcast The cost of Snowy Hydro 2.0 has blown out to as much as $25bn, with a major reassessment finding the long-delayed renewable energy project will not be completed until the end of the decade. First touted by the Turnbull government in 2017 with a price tag of $2bn, the cost of the project in the Kosciuszko national park has increased dramatically over time. In 2023 it was revised to almost $13bn, with construction due to completed by the end of 2028. Continue reading...
Irish central bank fines Coinbase unit €3.25 million
The Central Bank of Ireland fined crypto asset-trading platform Coinbase's Irish unit €3.25 million ($3.65 million) for breaching safeguarding and outsourcing obligations between 2020 and 2025, it said in a statement on Thursday.
Incorrect wheel diameter information led to wrong side ETCS failure
A wrong side ETCS failure near Welshpool has been attributed to the onboard equipment using incorrect wheel diameter information to calculate the train’s position. At around 23.52 on September 15, an infrastructure monitoring train operating under ETCS Level 2 supervision stopped at a block marker which should have signified the end of its movement authority.
Log in or sign up to comment.