Snowy Hydro Limited has a long and proud history as an Australian company. The construction of the Snowy Mountains Hydro-electric Scheme is a well documented part of our nation’s history and we are a great example of Aussie innovation and ingenuity.
From those beginnings, we have become a dynamic and growing end to end energy provider with the complete service offering, still backed by the mighty Snowy. We’ve evolved from an electricity generator managing electricity price risk in the National Electricity Market (NEM), to an integrated energy business – generating energy, providing price risk management products for wholesale customers and delivering energy to homes and businesses.
Key to our success is our ability to utilise the Snowy Scheme’s large, reliable and fast start capability to our advantage whether it’s through spot generation, risk management for our wholesale customers, futures contracts or electricity and gas supply to households and commercial and industrial customers.We are the leading provider of peak, renewable energy to the NEM. Over the years we have diversified our business and rebuilt water storages post-drought to manage our risk and help make us resilient to changes in the market, shifts in energy demand and variable climatic conditions.
We own, operate and maintain the 4100MW Snowy Mountains Scheme, the 300MW Valley Power gas-fired power station and the 320MW Laverton North gas-fired power station and the 667MW gas-fired generator at Colongra in New South Wales. We combine the power of the mighty Snowy Mountains Scheme with gas and diesel fired peaking generators to deliver a flexible and reliable mix of energy to our customers every day. We have 16 power stations, generate 4500GWh on average per annum and have more than 5500MW of generating capacity across New South Wales, Victoria and South Australia.
We’ve become the fourth largest energy retailer in the NEM by investing more than a billion dollars in growing our customer base, modernising our generating infrastructure, building and acquiring more generating capacity where we need it and developing our people.
Every day we provide fast, clean electricity and gas to our almost one million account holders who are households and businesses – big and small – across the country. Red Energy has been part of our business for more than a decade and we added Lumo Energy to our company in 2014, bolstering our household and business retail customer base to almost one million account holders. Our retail companies Red Energy and Lumo Energy pride themselves on customer service with energy backed by one of the great civil engineering wonders of the world – the Snowy Mountains Scheme. Direct Connect Australia, which we also acquired in 2014, provides Snowy Hydro with a unique channel to access customers who are moving home and is a valuable third-party sales channel.
Snowy Hydro operates under a stringent water licence that allows us to capture, store and divert water in order to generate electricity. That water is then released into the River Murray and Murrumbidgee River systems to be used by irrigators and downstream water suppliers.
We are owned by the New South Wales Government (58 per cent), the Victorian Government (29 per cent) and the Commonwealth Government (13 per cent) and we operate as a Corporations Law company with an independent Board of Directors.