Capture — $2 billion

• Claim filed: A “$2 billion intervention” — the Turnbull government’s opening price for Snowy 2.0.
• Who: Malcolm Turnbull / Federal Government, 16 March 2017
• URL: https://www.abc.net.au/news/2017-03-16/snowy-hydro-scheme-funding-boost-to-secure-electricity-supply/8358502
• Date on page: 16 March 2017
• Publisher: ABC News
• Title: Snowy Hydro scheme boost to secure electricity supply on east coast: Government
• Captured: 2026-08-14
• Method: saved HTML (abc-2017-03-16.html)

Verbatim (ABC, 16 March 2017)

The Federal Government has announced a $2 billion intervention in Australia's electricity supply debate, by expanding the Snowy Mountains hydro scheme in a bid to power up to 500,000 homes.

Frydenberg, same piece:

while the scheme's expansion would “run into the billions of dollars”

The other meter

Feasibility, 21 December 2017 — abc-2017-12-21.html
https://www.abc.net.au/news/2017-12-21/snowy-hydro-2.0-could-actually-cost-as-much-as-$4.5b/9277368

Paul Broad: costs now $3.8–$4.5 billion. “It’s expensive, but it stacks up economically.”

It won't be a cost to taxpayers, we will be paying for this out of the balance sheet of Snowy Hydro.

ABC explainer, 3 June 2026 — abc-2026-06-03.html
https://www.abc.net.au/news/2026-06-03/billions-over-budget-years-late-how-snowy-hydro-2-got-here/106706518

• August 2023 reset to $12 billion (six times the original).
• On that $12 billion line: about $3 million a day since announcement.
• Company has admitted the final tag will be higher.

ANAO (cited on the 2023 reset card): $11.1 billion spent at 31 March 2026, 73% complete; October 2025 advice that expenditure is expected to exceed the approved $12 billion.

HumeLink (~$5 billion) is excluded from the Snowy 2.0 tag and billed to NSW consumers (Guardian, 31 August 2023).

What this file does not do

It does not file “never build pumped hydro.” It files the $2 billion opening number against the later invoices.