energy founded 1949 1949 as snowy mountains hydro electric authority 2001 2001 as snowy hydro limited 1 headquarters cooma new south wales australia area served new south wales victoria queensland south australia and the australian capital territory key people noel cornish chairman paul broad managing director and ceo products electricity generation services electricity retailing bulk water management revenue a 1.201 billion 2013 2 operating income a 400 million 2013 2 net income a 280 million 2013 2 total assets a 2.424 billion 2013 2 total equity a 1.795 billion 2013 2 owner commonwealth government 13 % government of new south wales 58 % and government of victoria 29 % number of employees 650 subsidiaries red energy pty. limited and valley power pty. limited website www.snowyhydro.com.au snowy hydro limited is an electricity generation and retailing company in australia that owns manages and maintains the snowy mountains hydro electric scheme which consists of nine hydro electric power stations and sixteen large dams connected by 145 kilometres 90 mi of tunnels and 80 kilometres 50 mi of aqueducts located mainly in the kosciuszko national park . snowy hydro also owns and operates two gas fired power stations in victoria and one in new south wales and owns two electricity retailing businesses red energy and lumo energy . the company is jointly owned by the commonwealth 13 % new south wales 58 % and victorian 29 % governments and whilst not a statutory corporation is established by the snowy mountains hydro electric power act 1949 cth . prior to its incorporation under the corporations act 2001 cth the company was previously known as snowy mountains hydro electric authority . contents 1 generating assets 2 water storage and diversion 3 proposed public divestment 4 current market position 5 see also 6 references 7 external links generating assets edit the company manages the snowy mountains scheme which generates on average around 4 500 gigawatt hours of clean renewable energy each year which is around 37 % of all renewable energy in the mainland national electricity market in 2010 . the company also owns a 300 mw gas fired peaking power station in victoria s latrobe valley a 320 mw gas fired peaking power station at laverton north near melbourne and a 667 mw gas fired peaking power station at colongra on the central coast of new south wales . the company s production assets are summarised in the table below . these assets are used to generate electricity for sale under contract to the national electricity market . name fuel type location maximum capacity mw commissioned blowering hydro turbo pump blowering dam 80 1969 guthega hydro turbo pump near guthega 60 1955 jindabyne dam mini hydro turbo pump jindabyne 1.1 2011 jounama small hydro turbo pump near jounama 14.4 2010 laverton north natural gas gas turbines laverton 320 2006 murray 1 hydro turbo pump near khancoban 950 1967 murray 2 hydro turbo pump near khancoban 550 1969 tumut 1 hydro turbo pump tumut 330 1959 tumut 2 hydro turbo pump tumut 286 1962 tumut 3 hydro turbo pump tumut 1 500 1973 micro hydro turbo pump tumut 0.720 2003 3 valley power natural gas gas turbines traralgon 300 2002 colongra natural gas gas turbines colongra 667 2009 4 water storage and diversion edit as part of the company s responsibilities for managing the snowy mountain scheme snowy hydro limited also collects stores and diverts water for irrigation from the snowy mountains catchment west to the murray and murrumbidgee river systems under what is called the snowy water licence . granted as part of the snowy hydro corporatisation act 1997 nsw for fixed five year terms this licence prescribes the rights and obligations on the company with respect to the collection diversion storage use and release of water within the snowy area . the snowy water licence also imposes some obligations on the company in terms of releasing environmental flows east into the snowy river and other rivers in the snowy mountains region . proposed public divestment edit in december 2005 the nsw government announced it would sell its 58 % share in snowy hydro expecting to yield a 1 billion . 5 the federal 6 and victorian 7 governments had followed suit announcing by mid february 2006 the intent to sell their 13 % and 29 % respectively with a 1.7 billion ranging up to a 3 billion 8 9 expectations through a public float . 7 pre registration for shares in snowy hydro opened in mid may and it was expected that the float would take place some time in july . over 200 000 people pre registered to purchase shares in the company over two weeks . on 2 june 2006 the federal government announced that it would no longer sell its 13 % stake in the project effectively forcing the hands of the new south wales and victorian governments to follow suit . the aborted sale followed strong opposition from the public including government mps and prominent australians . 9 10 11 in february 2014 the national commission of audit recommended in its phase one report that the commonwealth sell its interest in snowy hydro . 12 current market position edit since privatisation was cancelled in 2006 the company has continued to grow with investment into snowy scheme modernisation projects cloud seeding development of mini hydro opportunities such as the 14 mw jounama mini hydro commissioned in 2010 and growth of its retailing business red energy . in 2014 snowy hydro purchased gas and electricity retailer lumo energy . 13 in addition snowy hydro has developed its gas fired power station portfolio to reduce risks to the business due to its reliance on water as an energy source and the potential impact of transmission constraints on the ability of the remote snowy mountains hydro generation assets to access the electricity grid . citation needed in january 2015 snowy hydro acquired the gas fired colongra power station in new south wales . 14 see also edit snowy mountains scheme references edit abn lookup historical details for abn 17 090 574 431 . retrieved 9 august 2012 . a b c d e company fy 13 results pdf . australian hydro projects operating . energy news bulletin . aspermont ltd. 28 april 2006 . retrieved 6 may 2013 . colongra power station . snowy hydro limited . retrieved 9 november 2015 . nsw to sell snowy hydro stake . energy news premium . 19 december 2005 . retrieved 17 december 2011 . stafford annabel 26 may 2006 . howard intends to sell snowy hydro . the age . retrieved 17 december 2011 . a b snowy hydro sale to include 100 % of shares . hydro world . 22 february 2006 . retrieved 17 december 2011 . snowy hydro sale gets green light . the age . aap . 30 march 2006 . retrieved 17 december 2011 . a b daley gemma 2 june 2006 . snowy hydro sake scrapped after protests . bloomberg . united states . retrieved 17 december 2011 . grubel james 2 june 2006 . australian government scuppers snowy hydro sale . reuters . retrieved 2 june 2006 . madden hamish 2 june 2006 . snowy hydro not for sale . financial standard . retrieved 17 december 2011 . http www.ncoa.gov.au report phase % 2done part b 10 1 privatisations.html retail snowy hydro . retrieved 2016 07 13 . colongra power station snowy hydro . retrieved 2016 07 13 . external links edit construction images snowy hydro company website audiovisual titles relating to the building of the snowy hydro scheme on australianscreen v t e energy in new south wales generation renewable energy plants biomass combustion broadwater sugar mill broadwater biomass co gen condong sugar mill condong biomass co gen harwood sugar mill visy paper tumut cogeneration amcor bomaderry bluescope steel port kembla caltex refining kurnell macquarie university shell refining clyde stadium australia university of western sydney visy paper smithfield hydro electric bendeela blowering brown mountain burrendong burrinjuck chichester copeton glenbawn guthega hume jindabyne dam mini hydro jounama small hydro kangaroo valley keepit kembla grange lostock murray 1 murray 2 nymboida oaky river pindari the drop tumut 1 tumut 2 tumut 3 and micro hydro warragamba williams river dam private wyangala wind farms blayney crookwell hampton non renewable energy plants coal fired bayswater eraring liddell mount piper munmorah redbank vales point wallerawang natural gas appin mine belrose colongra earthpower camelia jacks gully liddell lucas heights i lucas heights ii shoalhaven landfill gas project smithfield energy facility sydney water malabar tahmoor tallawarra teralba tower mine uranquinty wilga generator companies delta electricity eraring energy subsidiary of origin macquarie generation subsidiary of agl energy snowy hydro distribution distribution network operators ausgrid endeavour energy essential energy transmission network operators transgrid retail companies and brands actewagl agl energy click energy country energy energyaustralia integral energy origin energy powershop red energy historical advance energy australian inland bega valley county council brisbane water county council electricity commission of new south wales energyaustralia state government enterprise great southern energy illawarra electricity mackellar county council macquarie county council western power new england county council new england electricity north west county council north west electricity northern riverina county council northern riverina electricity northern rivers county council northern rivers electricity northpower ophir county council ophir electricity orion energy oxley county council oxley electricity pacific power peel cunningham county council pccc electricity prospect electricity shortland county council shortland electricity southern mitchell county council southern mitchell electricity southern riverina county council southern riverina electricity southern tablelands county council southern tablelands electricity st george county council sydney county council sydney electricity ulan county council ulan electricity list of power stations in new south wales retrieved from https en.wikipedia.org w index.php title snowy hydro & oldid 733996921 categories government owned companies of new south walespower companies of australiasnowy mountains schemehidden categories use australian english from february 2012all wikipedia articles written in australian englishuse dmy dates from february 2012all articles with unsourced statementsarticles with unsourced statements from december 2011 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 11 august 2016 at 13 11 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view