{ "entity_id": "B-003895", "folder": "Snowy-Hydro-Trading-Pty-Ltd", "name": "Snowy Hydro Trading Pty Ltd", "type": "Government Subsidiary", "jurisdiction": "Commonwealth", "portfolio": "Climate Change, Energy, the Environment and Water", "website": "https://www.snowyhydro.com.au/", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": false, "has_global_initiatives_text": false, "has_ideas": true, "has_artifacts": true, "n_ideas": 12, "n_legislation": 0, "n_artifacts": 15, "n_kpi_targets": 3, "n_kpi_results": 3, "n_outcomes": 2, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "To power Australia’s sustainable future [AR p. 9]", "official_site_url": "https://www.snowyhydro.com.au/", "source_documents": [ { "type": "annual_report", "title": "2024-2025", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf", "period": "2024-25", "confidence": "high" }, { "type": "annual_report", "title": "2023-2024", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf", "period": "2023-24", "confidence": "high" }, { "type": "annual_report", "title": "2022-2023", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf", "period": "2022-23", "confidence": "high" }, { "type": "annual_report", "title": "2021 Dam Safety Annual Report Attestation", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021_Dam_Safety_Annual_Reports.pdf", "period": "2022", "confidence": "high" }, { "type": "annual_report", "title": "2021-2022", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf", "period": "2021-22", "confidence": "high" }, { "type": "strategie", "title": "Upper Murrumbidgee Drought Operating Framework Weekly Report", "url": "https://www.snowyhydro.com.au/wp-content/uploads/pdfs/watrel/upper-murrumbidgee-dof-weekly-report.pdf", "period": null, "confidence": "medium" }, { "type": "strategie", "title": "HEZ Annual Monitoring Data 2022", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2022/11/HEZ-Annual-Emissions-Monitoring-2022.pdf", "period": "2022", "confidence": "medium" }, { "type": "strategie", "title": "HEZ Annual Monitoring Data 2023", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2023/07/HEZ-Annual-Emissions-Monitoring-2023.pdf", "period": "2023", "confidence": "medium" }, { "type": "strategie", "title": "HEZ Annual Monitoring Data 2024", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2024/07/HEZ-Annual-Emissions-Monitoring-2024.pdf", "period": "2024", "confidence": "medium" }, { "type": "strategie", "title": "HEZ Annual Monitoring Data 2025", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2025/06/HEZ-Annual-Emissions-Monitoring-2025.pdf", "period": "2025", "confidence": "medium" } ], "purpose": { "text": "To power Australia’s sustainable future [AR p. 9]", "source_url": "", "source_page": 9, "source_deep_url": "" }, "vision": null, "strategic_priorities": [ { "title": "Enable the renewable energy transition", "description": "Enable the renewable energy transition", "source_url": "", "source_page": 11, "source_deep_url": "" }, { "title": "Deliver reliability and energy security", "description": "Deliver reliability and energy security", "source_url": "", "source_page": 11, "source_deep_url": "" }, { "title": "Promote market competition", "description": "Promote market competition", "source_url": "", "source_page": 11, "source_deep_url": "" }, { "title": "Develop responsible environmental and community outcomes", "description": "Develop responsible environmental and community outcomes", "source_url": "", "source_page": 11, "source_deep_url": "" }, { "title": "Develop and engage our people", "description": "Develop and engage our people", "source_url": "", "source_page": 11, "source_deep_url": "" } ], "values": [ { "name": "Safety", "description": "", "source_url": "", "source_page": null }, { "name": "Teamwork", "description": "", "source_url": "", "source_page": null }, { "name": "Ownership", "description": "", "source_url": "", "source_page": null }, { "name": "Agility", "description": "", "source_url": "", "source_page": null }, { "name": "Decency", "description": "", "source_url": "", "source_page": null }, { "name": "Courage", "description": "", "source_url": "", "source_page": null } ], "outcomes": [ { "name": "Outcome 1: Energy transition & climate change", "description": "Help Australia act on climate change by providing the electricity storage and on-demand power needed to support more renewable wind and solar energy coming online. We will also support our customers through the transition, while looking for ways to reduce our own emissions [AR p. 12]", "activities": [ "Empowering our people to always put safety first", "Operating and maintaining parts of Kosciuszko National Park and other natural resources", "Meeting important environmental regulations" ], "source_url": "", "source_page": 12, "source_deep_url": "" }, { "name": "Outcome 2: Customer experience", "description": "Build long-term partnerships with our customers and earn their trust by offering a diverse range of energy products, including renewable electricity, backed by exceptional and industry-leading customer service [AR p. 13]", "activities": [ "Offering accredited renewable energy options", "Managing supporting assets responsibly in a changing climate", "Strategically managing our assets to maintain the grid’s efficiency and reliability" ], "source_url": "", "source_page": 13, "source_deep_url": "" } ], "performance_measures": [ { "code": "CCE01", "measure": "Cumulative capacity of Snowy 2.0", "target": "2,200 MW", "latest_result": "On track", "status": "Achieved", "target_source_url": "", "target_source_page": 14, "result_source_url": "https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf", "result_source_page": 14 }, { "code": "CCE02", "measure": "Energy storage capacity of Snowy 2.0", "target": "350 GWh", "latest_result": "On track", "status": "Achieved", "target_source_url": "", "target_source_page": 14, "result_source_url": "https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf", "result_source_page": 14 }, { "code": "CCE03", "measure": "Wind and solar capacity enabled by Snowy 2.0", "target": "6,600 MW", "latest_result": "On track", "status": "Achieved", "target_source_url": "", "target_source_page": 14, "result_source_url": "https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf", "result_source_page": 14 } ], "document_alignment_terms": { "must_support": [ "To power Australia’s sustainable future [AR p. 9]", "Enable the renewable energy transition", "Deliver reliability and energy security", "Promote market competition", "Develop responsible environmental and community outcomes", "Develop and engage our people" ], "watch_terms": [ "Cumulative capacity of Snowy 2.0", "Energy storage capacity of Snowy 2.0", "Wind and solar capacity enabled by Snowy 2.0" ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "strategy_brief_md": "# Snowy Hydro Trading Pty Ltd — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Annual Report**: [2024-25](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)\n\n## Our purpose / purposes\n\n> To power Australia’s sustainable future [AR p.9](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=9) [CP p.9]\n\n## How we deliver\n\n> Our strategy is built on five core elements that respond to our Statement of Expectations and optimise our approach to delivering value for our shareholder, customers, other stakeholders and ultimately, for Australia [AR p.11](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=11) [CP p.11]\n\n## Government priorities for this department\n\n- Enable the renewable energy transition [CP p.11]\n- Deliver reliability and energy security [CP p.11]\n- Promote market competition [CP p.11]\n- Develop responsible environmental and community outcomes [CP p.11]\n- Develop and engage our people [CP p.11]\n\n## Outcomes\n\n### Outcome 1: Energy transition & climate change\nHelp Australia act on climate change by providing the electricity storage and on-demand power needed to support more renewable wind and solar energy coming online. We will also support our customers through the transition, while looking for ways to reduce our own emissions [AR p.12](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=12) [CP p.12]\n\n**Key activities:**\n- Empowering our people to always put safety first\n- Operating and maintaining parts of Kosciuszko National Park and other natural resources\n- Meeting important environmental regulations\n\n### Outcome 2: Customer experience\nBuild long-term partnerships with our customers and earn their trust by offering a diverse range of energy products, including renewable electricity, backed by exceptional and industry-leading customer service [AR p.13](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=13) [CP p.13]\n\n**Key activities:**\n- Offering accredited renewable energy options\n- Managing supporting assets responsibly in a changing climate\n- Strategically managing our assets to maintain the grid’s efficiency and reliability\n\n## Values and principles\n\n_APS Values_\n\n- Safety\n- Teamwork\n- Ownership\n- Agility\n- Decency\n- Courage\n\n## What they will measure themselves on this year (targets from 2025-26 corporate plan)\n\n| Code | Measure | Target | Source |\n|---|---|---|---|\n| CCE01 | Cumulative capacity of Snowy 2.0 | 2,200 MW | CP p.14 |\n| CCE02 | Energy storage capacity of Snowy 2.0 | 350 GWh | CP p.14 |\n| CCE03 | Wind and solar capacity enabled by Snowy 2.0 | 6,600 MW | CP p.14 |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| CCE01 | Cumulative capacity of Snowy 2.0 | On track | Achieved | [AR p.14](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=14)(https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=14) |\n| CCE02 | Energy storage capacity of Snowy 2.0 | On track | Achieved | [AR p.14](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=14)(https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=14) |\n| CCE03 | Wind and solar capacity enabled by Snowy 2.0 | On track | Achieved | [AR p.14](https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=14)(https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf#page=14) |", "strategy_overview_evidence_md": null, "internal_strategy_evidence_md": "# Snowy Hydro Trading Pty Ltd - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T22:10:11.018817+00:00\n**Entity ID**: B-003895\n**Entity type**: Government Subsidiary\n**Jurisdiction**: Commonwealth\n**Portfolio**: Climate Change, Energy, the Environment and Water\n**Website**: https://www.snowyhydro.com.au/\n\n> Draft generated from scraped source material. Treat this as an evidence pack for editorial review, not a final judgement.\n\n## Source Coverage\n\n| Source type | Count |\n|---|---:|\n| annual-reports | 5 |\n| other-pdfs | 3 |\n| pages | 35 |\n| strategies | 5 |\n\n## Executive Readout\n\n### Purpose\n\n- [Page 3]\nSnowy Hydro Limited\nand its Controlled Entities\nABN 17 090 574 431\nANNUAL REPORT\nFor the financial year ended 30 June 2022\nContents\nCorporate directory 2\nChair and Chief Executive Officer’s message 3\nOur purpose and objectives 5\nDirectors’ report 6\nRemuneration report 16\nEnvironmental, social and corporate governance statement 30\nOperational and financial review 44\nConsolidated financial report 52\nDirectors’ declaration 108\nAuditor’s independence declaration 109\nIndependent auditor’s report 110\nRegulatory reporting requirements index 115\nSnowy Hydro Limited ABN 17 090 574 431\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- [Page 3]\n1\nTable of\nContents\nCorporate Directory 2\nChair and Chief Executive Officer’s Message 3\nOur Purpose and Objectives 5\nDirectors’ Report 6\nRemuneration Report 17\nEnvironmental, Social and Corporate Governance 32\nCorporate Governance Statement 36\nOperational and Financial Review 47\nConsolidated Financial Report 55\nDirectors’ Declaration 111\nAuditor’s Independence Declaration 112\nIndependent Auditor’s Report 113\nRegulatory Reporting Requirements Index 119\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- [Page 3]\nContents\nCorporate Directory 2\nChair and Chief Executive Officer’s Message 3\nOur Purpose and Objectives 6\nOur Strategy 7\nDirectors’ Report 9\nRemuneration Report 21\nSustainability 39\nDiversity and Inclusion 49\nCorporate Governance Statement 59\nOperational and Financial Review 71\nConsolidated Financial Report 81\nConsolidated Entity Disclosure Statement 135\nDirectors’ Declaration 136\nAuditor’s Independence Declaration 137\nIndependent Auditor’s Report 138\nRegulatory Reporting Requirements Index 143\n1\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [Page 145]\nRegulatory RCeopnosrotliindga tReedq Fuiinreamnceinatl sR Ienpdoerxt\nRegulatory Reporting Requirements Index\nPublic Governance, Performance and Accountability Rule 2014\n(PGPA Rule)\nFor the period ended 30 June 2024\nSection Subject Location Pages\n28E Contents of annual report\n28E(a) The purposes of the company as included in the Our Purpose and Objectives 6\ncompany’s corporate plan for the reporting period\n28E(aa) The results of a measurement and assessment of Operational and Financial Review 71-80\nthe company’s performance during the reporting\nperiod, including the results of a measurement and\nassessment of the company’s performance against\nany performance measures and any targets\nincluded in the company’s corporate plan for the\nreporting period\n28E(b) The names of the persons holding the position Our Purpose and Objectives 6\nof responsible Minister or responsible Ministers\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n\n### Role and Functions\n\n- Financial Risk Management\n$million 2018 2017\nFinancial assets\nCash and cash equivalents 32.7 34.0\nFair value through profit or loss (FVPL) 108.0 314.4\nDerivatives designated and effective as hedging instruments 0.6 1.5\nLoans and receivable 470.2 355.7\nFinancial liabilities\nAmortised cost 1,098.4 1,072.0\nFair value through profit or loss (FVPL) 139.6 177.1\nDerivatives designated and effective as hedging instruments 19.6 29.1\nThe Group’s Treasury and Portfolio management functions provide services to the business to monitor\nand manage risks relating to National Electricity Market (NEM) outcomes, commodity prices, foreign\nexchange and interest rates movement, liquidity and credit exposure as they arise in the normal course of\noperations of the Group.\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ended-30-June-2018-2.pdf)`\n- Financial instruments (continued)\nThe change in fair value of derivatives recognised through profit or loss comprises:\n$million 2024 2023\n(Loss)/gain recognised on energy derivatives (standard swaps, options and (128.7) 327.7\nbespoke contracts)\nLoss due to interest rate hedge ineffectiveness (3.6) (6.5)\nMovement of cap premium received not yet amortised (13.9) 7.8\nChanges in fair value of financial instruments recognised through profit or loss (146.2) 329.0\nThe change in fair value of derivatives designated and effective as hedging instruments recognised through hedging\nreserves comprises:\n$million 2024 2023\n(Losses) or gains recognised on:\nForeign exchange contracts (12.5) 21.5\nCommodity swaps 0.5 (11.4)\nInterest rate swaps (36.0) 23.0\nChanges in fair value of financial instruments recognised through hedging reserves (48.0) 33.1\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- Committee meetings\nBoard\nDirectors Audit & Portfolio Risk Safety, People & 2.0 Project\nmeetings]\nCompliance Operations, Culture Advisory\nEnvironment Risk\nH A H A H A H A H A H A\nDavid Knox [4] 10 10 5 5\nPaul Broad [4] 10 10 4 4\nRichard Sheppard[1] 8 8 3 3 4 4 1 1\nLeeanne Bond 10 10 4 4 4 4 11 11\nScott Mitchell 10 10 4 4 5 5 11 11\nKaren Moses 10 10 4 4 5 5\nSandra Dodds 10 10 4 4 3 3 1 1\nAnthony Shepherd 10 10 4 4 11 10\nLeanne Heywood[2] 2 2 1 1 1 1\nTimothy Longstaff[3] 2 2 1 1 1 1\n[1] Term ended on 31 March 2022\n[2] From the date of appointment on 21 March 2022\n[3] From the date of appointment on 1 April 2022\n[4] The Chair and the CEO attended all 28 Committee meetings held in FY22 irrespective of membership.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- The Board has established five Committees, as set out in the diagram\nabove, to assist the Board in discharging its responsibilities:\n● the Audit and Compliance Committee provides advice to the Board on risks relating to audit, financial\nreporting, financial and business risk management, corporate management frameworks and certain\ncompliance matters;\n● the Portfolio Risk Committee provides advice to the Board on risks pertaining to the Company’s energy\ntrading activities (including credit risk management), treasury functions, trading operations and\ncorporate and strategic activities;\n● the Safety, Operations and Environment Risk Committee provides advice to the Board on risks\npertaining to the operations of the generation, hydraulic and communication assets of the Company,\nworkplace health and safety and environmental practices, including water release obligations;\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- [pages 12,13,14]\noduction Environment Risk Committee and\nand Exploration Association from 2011 member of the Portfolio Risk Committee\nto 2013, and Chair of i3 Energy PLC (UK) and Project Advisory Committee.\nfrom 2017 to 2020.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- H Number of meetings held during the time the Director held office or was a member of the Committee during the year\nA Number of meetings attended\nCommittee meetings\nBoard Safety,\nDirectors meetings Audit & Portfolio Risk Operations, People & Project\nCompliance Environment Culture Advisory\nRisk\nH A H A H A H A H A H A\nDavid Knox 11 11 10 10\nDennis Barnes1 5 5 4 2*\nLeeanne Bond 11 11 4 4 4 4 7 7\nScott Mitchell 11 10 4 3 10 10 7 7\nKaren Moses 11 11 4 4 10 10\nSandra Dodds 11 10 4 4 10 10 3 3\nAnthony Shepherd2 11 10 4 4 7 7\nLeanne Heywood3 11 11 4 4 4 4\nTimothy Longstaff 11 11 4 4 4 4\nPaul Broad4 2 2 1 1 1 1\n1 The CEO is a member of the Board Safety, Operations and Environment Risk Committee (BSOERC) and ex-officio attendee of other Board\nCommittees. *The CEO commenced on 1 February 2023 and attended all BSOERC meetings held during his period of office.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n\n### Strategic Priorities\n\n- At Risk • Annual performance-based remuneration aligned • Annual performance-based\nVariable to the strategic priorities of Snowy Hydro, individual remuneration aligned to\nRemune- areas of accountability and corporate values: the strategic priorities of\nration (VR) – 80% Group Balanced Scorecard (quantitative); Snowy Hydro, individual\n– 20% Individual Key Performance Indicators areas of accountability and\n(KPIs) (qualitative). corporate values:\n• VR is dependent on achieving performance – 80% Group Balanced\nscorecard measures over and above threshold Scorecard (quantitative); and\nperformance set by the Board and aligned to the – 20% Individual KPIs\nCorporate Plan. (qualitative).\n• The RT has determined that the Snowy Hydro MD • VR is dependent on achieving\nand CEO is eligible for VR up to 40% of FAR. performance scorecard measures\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- At Risk • Annual performance-based remuneration aligned to • Annual performance-based remuneration aligned to\nVariable the strategic priorities of the Group, individual areas of the strategic priorities of the Group, individual areas of\nRemuneration accountability and corporate values: accountability and corporate values:\n1 (VR1) o 90% Group Balanced Scorecard (quantitative); o 90% Group Balanced Scorecard (quantitative); and\no 10% Individual Key Performance Indicators (KPIs) o 10% Individual Key Performance Indicators (KPIs)\n(qualitative). (qualitative).\n• VR1 is subject to the Safety KPI condition. • VR1 is subject to the Safety KPI condition and malus/\n• VR1 is dependent on achieving performance scorecard clawback terms.\nmeasures over and above threshold performance set • VR1 is dependent on achieving performance scorecard\nby the Board and aligned to the Corporate Plan.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- At Risk Variable Remuneration • Annual performance-based remuneration aligned to the strategic priorities of • Annual performance-based remuneration aligned to the strategic priorities of\n(VR) Snowy Hydro, individual areas of accountability and corporate values: Snowy Hydro, individual areas of accountability and corporate values:\n○ 80% Group Balanced Scorecard (quantitative); ○ 80% Group Balanced Scorecard (quantitative); and\n○ 20% Individual KPIs (qualitative). ○ 20% Individual KPIs (qualitative).\n• VR is dependent on achieving performance scorecard measures over and above • VR is dependent on achieving performance scorecard measures over\nthreshold performance set by the Board and aligned to the Corporate Plan. and above threshold performance set by the Board and aligned to the\n• The RT has determined that the Snowy Hydro MD and CEO is eligible for VR up to Corporate Plan.\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n- Snowy 2.0, HPP) / Operations / Customer 35.0%\n(90%)\nIndividual Individual focus component typically includes KPIs as follows:\nScorecard KPIs ● Major Programs of Work\n(Qualitative) ● Reputation and risk;\n● Stakeholders; and 10.0%\n● Safety, Leadership and Culture.\n(10%)\nTotal 100.0%\nThe individual focus component also allows for adjustment of quantitative performance outcomes up or down\ndepending on the circumstances in the external environment, changes in priorities not foreseen at the\nbeginning of the performance period and demonstration of company values and behaviours.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- [pages 1,2,3,4,5]\n[Page 1]\nANNUAL\nREPORT\nFor the year ended 30 June 2023\nSafety is always our number one priority\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities - Snowy 2.0 Project (contractor) and HPP (contractor) 0 1\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.07\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as determined Top quartile Second quartile\nby survey) of Global of Global\nBenchmark Benchmark\nIndex Index\nRetail customer experience\nNet Promoter Score (percentage of promoters minus percentage of detractors) Industry Industry\nLeading Leading\nCustomer satisfaction (percentage customers very or quite satisfied) Industry Industry\nLeading Leading\nRegulatory compliance\nOmbudsman complaints (number of complaints per mass market customer) Below industry Below industry\naverage average\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities – Snowy 2.0 Project (contractor) and HPP (contractor) 0 0\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.7\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as Top quartile Second quartile\ndetermined by survey) of Global of Global\nBenchmark Benchmark\nIndex Index\nRetail customer experience\nNet Promoter Score (percentage of promoters minus percentage of detractors) Industry Industry\nLeading Leading\nCustomer satisfaction (percentage customers very or quite satisfied) Industry Industry\nLeading Leading\nRegulatory compliance\nOmbudsman complaints (number of complaints per mass market customer) Below industry Below industry\naverage average\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [pages 81,82,83,84,85]\ndue to forced <1.0 0.49\noutage / annual capability in MWh)\nGas generator start reliability (%; successful starts / total attempted starts) >99.5 98.46\nGas generator forced outage factor (%; MWh of lost capability due to forced <1.0 3.18\noutage / annual capability in MWh)\nSnowy Hydro continues to monitor all aspects of the Snowy 2.0 and Hunter Power projects and continues to make\nsafety our number one priority.\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [Page 44]\n42 Snowy Hydro Annual Report For the year ended 30 June 2023\nPrinciple 2: Structure the Board to be effective and add value\nThe Board has in place a robust annual review process to ensure its corporate governance practices remain fit for purpose,\neffective and aligned with the Company’s strategic objectives, and complies with GBE Guidelines.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- Variable Reward 1 ● Annual performance-based reward aligned to the strategic priorities of the\n(VR1) Group, individual areas of accountability and corporate values:\n○ 90% Group Balanced Scorecard (quantitative); and\n○ 10% Individual Key Performance Indicators (KPIs) (qualitative).\n● VR1 pool becomes available only when the following two gates have been met:\n○ The safety gate (no fatalities to either an employee or embedded\ncontractor across the Snowy Hydro Group); and\n○ The financial gate has to be met prior to any variable payment being\nconsidered.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nTotal reportable injury frequency rate (TRIFR) (number per million hours <3.7 1.86\nworked; employees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as Top Top\ndetermined by survey) quartile of quartile of\nAustralian Australian\ncompanies companies\nRetail customer experience\nNet Promoter Score (percentage of promoters minus percentage of detractors) Industry Industry\nLeading Leading\nCustomer satisfaction (percentage customers very or quite satisfied) Industry Industry\nLeading Leading\nRegulatory compliance\nOmbudsman complaints (number of complaints per mass market customer) Below Below\nindustry industry\naverage average\nCompliance with the Snowy Water Licence requirements (percentage of 100% 100%\nrequirements met)\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- Achieved by delivering on Snowy Hydro’s strategic imperatives\nHunter Power\n1 2 3 4 5\nWe maintain financial We strive for sustainable We keep people safe Through our strategic projects We aim for #1 in\ncredibility for the market business performance and engaged and operational excellence we customer service\nunderpin the NEM’s transition to\nour renewable energy future\n… which are incorporated in Snowy Hydro’s short-term and long-term measures\nCorporate KPIs (90%)\nFinancial Safety Strategic Projects/Operations Customer\nGroup EBITDA Credit rating Total Employees Delivery of S2.0 Reliability Net Promoter\n& negative Reportable Participation and HPP & Outage Score (NPS)\npledge Injury in Safety Compliance\ncovenant Frequency Rate Conversations\ncompliance (TRIFR)\n… and Snowy Hydro’s actual performance\nIn a challenging Credit Rating Generation Effective In the review On all key Red and Lumo\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities - Snowy 2.0 Project (contractor) and HPP (contractor) 0 1\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.07\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as determined Top quartile Second quartile\nby survey) of Global of Global\nBenchmark Benchmark\nIndex Index\nRetail customer experience\nNet Promoter Score (percentage of promoters minus percentage of detractors) Industry Industry\nLeading Leading\nCustomer satisfaction (percentage customers very or quite satisfied) Industry Industry\nLeading Leading\nRegulatory compliance\nOmbudsman complaints (number of complaints per mass market customer) Below industry Below industry\naverage average\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- Achieved by delivering on Snowy Hydro’s strategic imperatives\n1 2 3 4 5\nWe maintain financial We strive for sustainable We keep people safe Through our strategic We aim for #1 in customer\ncredibility for the market business performance and engaged projects and operational service\nexcellence we underpin\nthe NEM’s transition to our\nrenewable energy future\n… which are incorporated in Snowy Hydro’s short-term and long-term measures\nCorporate KPIs (80%)\nStrategic Projects/\nFinancial Safety & Engagement Customer\nOperations\nGroup EBITDA Total Reportable Injury Safety Leadership and Delivery of Snowy 2.0 Net Promoter Score (NPS)\nFrequency Rate (TRIFR) / Cultural Improvement and HPP\nHigh Potential Incidents\n… and Snowy Hydro’s actual performance\nSnowy Hydro has delivered Generation achieved at The delivery of the Safety Snowy 2.0 made progress Our Retail brands (Red\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities – Snowy 2.0 Project (contractor) and HPP (contractor) 0 0\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.7\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as Top quartile Second quartile\ndetermined by survey) of Global of Global\nBenchmark Benchmark\nIndex Index\nRetail customer experience\nNet Promoter Score (percentage of promoters minus percentage of detractors) Industry Industry\nLeading Leading\nCustomer satisfaction (percentage customers very or quite satisfied) Industry Industry\nLeading Leading\nRegulatory compliance\nOmbudsman complaints (number of complaints per mass market customer) Below industry Below industry\naverage average\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- Purpose Measure FY25 Targets FY25 Result\nPeople and Safety Fatalities - Snowy Hydro employees and supervised contractors 0 0\nFatalities - Snowy 2.0 Project (contractors) and Kurri Kurri Power Station 0 0\n(contractors)\nTotal reportable injury frequency rate (number per million hours worked; 2.4 3.551\nemployees and supervised contractors)\nEmployee engagement (percentage of staff very/extremely satisfied as determined Top quartile of the Second quartile of the\nby survey) Global Benchmark Index Global Benchmark Index2\nRetail Customer Experience Net Promoter Score (percentage of promoters minus the percentage of detractors) Industry leading Industry leading\nCustomer satisfaction (percentage of customers very or quite satisfied) >80% Industry leading 83% Industry leading\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n- Delivering on Snowy Hydro’s five core strategic elements\n1 2 3 4 5\nEnable the renewable Deliver reliability and energy security Promote market competition Deliver responsible environment and Develop and engage our people\nenergy transition\nOur operations are a significant Participating in the retail, C&I and community outcomes Our people are the key to Snowy’s\nOur electricity generating assets and contributor to the National Electricity wholesale energy markets enables Meeting our responsibilities as a minimum success and the future of renewable\nstorage support more wind and solar to Market’s reliability and to Australia’s competition to improve customer service and looking for the right opportunities to energy.\ncome online. energy security. standards and help reduce pressure on\ngo further.\nprices.\n… which are incorporated in Snowy Hydro’s short-term and long-term measures\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n- Number of times Concentration Result Exceedance\nSample Sample Units of monitored Limits\nPollutant\nLocation Date Measure during the\nperiod (mg/m3) (mg/m3) (Yes/No)\nCarbon Monoxide mg/m3 1 300 54 No\nEPA Point 1:\nStack 10 June\nSolid Particles mg/m3 1 10 3.4 No\nserving 2022\nEngines 1-6\nNitrogen Oxides mg/m3 1 200 52 No\nCarbon Monoxide mg/m3 1 300 52 No\nEPA Point 2:\nStack 9 June\nSolid Particles mg/m3 1 10 7.1 No\nserving 2022\nEngines 7-12\nNitrogen Oxides mg/m3 1 200 30 No\nCarbon Monoxide mg/m3 1 300 66 No\nEPA Point 3:\nStack\n9 June\nserving Solid Particles mg/m3 1 10 3.8 No\n2022\nEngines\n13-16\nNitrogen Oxides mg/m3 1 200 110 No\nMonitoring Point Location Plan:\n Source: `strategies/HEZ-Annual-Emissions-Monitoring-2022.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/11/HEZ-Annual-Emissions-Monitoring-2022.pdf)`\n- Number of times\nEPL Concentration Result Compliant\nSample Unit of monitored\nSample Date Pollutant Limit\nLocation Measure during the\n(mg/m3) (mg/m3) (Yes/No)\nperiod\nCarbon Monoxide mg/m3 300 53 Yes\n10\n2 May 2024 Solid Particles mg/m3 12 No\n(POEO Act LImit = 50)\nNitrogen Oxides mg/m3 200 44 Yes\nEPA Point 1:\nStack serving 2\nEngines 1-6 Carbon Monoxide mg/m3 300 51 Yes\n10\n19 June 2024 Solid Particles mg/m3 9.3 Yes\n(POEO Act LImit = 50)\nNitrogen Oxides mg/m3 200 57 Yes\nCarbon Monoxide mg/m3 300 38 Yes\n10\n1 May 2024 Solid Particles mg/m3 14 No\n(POEO Act LImit = 50)\nNitrogen Oxides mg/m3 200 20 Yes\nCarbon Monoxide mg/m3 300 39 Yes\n10\nEPA Point 2: 18 June 2024 Solid Particles mg/m3 3 13 No\nStack serving (POEO Act LImit = 50)\nEngines 7-12\nNitrogen Oxides mg/m3 200 29 Yes\nCarbon Monoxide mg/m3 300 38 Yes\n10\n19 June 2024 Solid Particles mg/m3 (POEO Act LImit = 50) 6.7 Yes\n Source: `strategies/HEZ-Annual-Emissions-Monitoring-2024.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/07/HEZ-Annual-Emissions-Monitoring-2024.pdf)`\n- [Page 2]\nHEZ Power Station Annual Emissions Monitoring 2024\nNumber of times\nEPL Concentration Result Compliant\nSample Unit of monitored\nSample Date Pollutant Limit\nLocation Measure during the\n(mg/m3) (mg/m3) (Yes/No)\nperiod\nCarbon Monoxide mg/m3 300 43 Yes\n10\n1 May 2024 Solid Particles mg/m3 12 No\n(POEO Act LImit = 50)\nNitrogen Oxides mg/m3 200 60 Yes\nEPA Point 3:\n2\nStack serving\nEngines 13-16 Carbon Monoxide mg/m3 300 45 Yes\n10\n18 June 2024 Solid Particles mg/m3 5.5 Yes\n(POEO Act LImit = 50)\nNitrogen Oxides mg/m3 200 77 Yes\nMonitoring Point Location Plan:\nPage 2 of 2\n Source: `strategies/HEZ-Annual-Emissions-Monitoring-2024.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/07/HEZ-Annual-Emissions-Monitoring-2024.pdf)`\n- Market Comparator Group 2021 Relevant GBE Group 2021\nGroup /\nComponent\nFAR TTR TMR FAR TTR TMR\nMD and CEO\nExecutive\nLegend\n- within 10% of the benchmark FAR Fixed Annual remuneration\n- between 10% and 20% below the benchmark TTR Total Target Remuneration\n- below 20% of the benchmark TMR Total Maximum Remuneration\n23\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- Type Key Result Area Weight\nFinancial (Group EBITDA), subject to achieving a threshold gate of\nGroup Performance 90% of Group consolidated EBITDA target over the three year period 40.0%\nKPIs (40%) which is set in the Corporate Plan at the beginning of the three year\nperformance period and approved by the Board.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- Achieved by delivering on SHL’s strategic imperatives\nHunter Power\n1 2 3 4 5\nThrough our strategic projects and\nWe maintain financial We strive for\nWe keep people operational excellence we We aim for #1 in\ncredibility for the sustainable business\nsafe and engaged underpin the NEM’s transition to customer service\nmarket performance\nour renewable energy future\n… which are incorporated in SHL’s short-term and long-term measures\nFinancial Safety Strategic Projects / Operations Customer\nCredit rating & Major Accident\nTotal Reportable Reliability &\nGroup negative pledge Prevention Delivery of S2.0 Net Promoter\nInjury Frequency Outage\nEBITDA covenant (MAP) and HPP Score (NPS)\nRate (TRIFR) Compliance\ncompliance Verifications\n… and SHL’s actual performance\nRed and Lumo\nOn all key\nIn the review have topped the\noperational\nperiod some Canstar customer\nEffective metrics (including\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- The People &\n4.82% (inclusive of superannuation\nCulture Committee determined that SHL’s performance 'exceeded most expectations’ and\nguarantee contribution rate change)\nrecommended the Board pay the MD & CEO a VR1 at 130.35% of target (86.9% of maximum),\nfor FY23 arising from the annual\nand Executives a VR1 at 131.6% of target (87.7% of maximum).\nreview of Executive remuneration\nThe FY20-22 Profit Share Plan (PSP)2 did not meet Threshold - Nil payment.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n\n## Key Metrics\n\n| Values found | Evidence | Source |\n|---|---|---|\n| $0.4 million, 0.4 million | [Page 31]\nSnowy Hydro Limited\nCONSOLIDATED FINANCIAL REPORT\nFOR THE REPORTING PERIOD ENDED 2 JULY 2016\nRestated Period\nPeriod ended ended\n2 July 2016 27 June 2015\n2 Profit from operations $M $M\n(a) Revenue / Other income\nRevenue and other income from continuing operations includes the following items:\nRevenue from the sale of goods 2,170.5 1,704.1\nIncrease in fair value of non-derivative\ntradeable assets (RECs & NGACs) 21.2 8.8\nSettlement of liti | `other-pdfs/SHL_AnnRep_15-16.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_15-16.pdf)` |\n| $8,164.0 million, 8,164.0 million | During 2023–24, • evaluated the appropriateness of the recognition\nthe Group entered into a revised contract for\nof the provision for rehabilitation costs to\ndelivery of Snowy 2.0.\nconfirm that it was measured in accordance with\nFor the year ended 30 June 2024, the Group reported the requirements of AASB 137 Provisions,\ntotal construction in progress, which included Snowy Contingent Liabilities and Contingent Assets;\n2.0, of $8,164.0 million. • a | `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)` |\n| $7.7 million, $11.1 million, $2.8\nmillion, 7.7 million, 11.1 million, 2.8\nmillion | Bushfire damaged assets totalling $7.7 million were written off immediately following the bushfires in\n2020, with a further $11.1 million of incremental bushfire recovery expenses incurred in 2021 and $2.8\nmillion incurred in 2022. | `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)` |\n| $13.7 million, 13.7 million | Revenue and expenses\n$million 2024 2023\nRevenue\nRevenue from contracts with customers\nWholesale 998.0 1,246.0\nRetail 2,971.6 2,462.7\nTotal revenue from contracts with customers 3,969.6 3,708.7\nOther revenue 185.2 197.7\nTotal revenue 4,154.8 3,906.4\nExpenses\nDirect costs of revenue (2,674.3) (2,960.2)\nImpairment loss recognised on trade receivables (33.7) (25.5)\nAmortisation (48.1) (49.4)\nDepreciation (105.9) (103.7)\nOperating lease expenses (1.8) | `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)` |\n| $3 , 358.3 million | The Property, Plant and Equipment;\ncomplexity of these judgements is increased due to the ● assessed the reasonableness of costs capitalised\nnumber of contractual obligations, construction during the period by:\nmilestones and timing involved in delivery of Snowy 2.0. ● testing, on a sample basis, capitalised costs to\ndetermine whether they were in accordance\nFor the year ended 30 June 2022 the Group reported\nwith the Group’s accounting policy;\nto | `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)` |\n| $7.1 billion, 7.1 billion | Additionally, in the May 2024 Budget the Commonwealth Government shareholder committed to provide funding\nof $7.1 billion to Snowy Hydro over four years from 2024–25 to support the continued construction of Snowy 2.0. | `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)` |\n| $110.3 million, $140.1 million, $126.4 million, $129.0 million, $1,026.2 million, $402.6 million | Of the total energy derivatives, $110.3 million\nForeign exchange risk\n(2024: $140.1 million) of the asset and $126.4 million (2024: $129.0 million) of the liability\nis expected to mature within 12 months, and $1,026.2 million (2024: $402.6 million) of The Group operates wholly within Australia and contracts with suppliers in Australian\nthe asset and $283.9 million (2024: $309.3 million) of the liability is expected to mature dollars or other curr | `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)` |\n| $131.6 million, $2015, $78.7 million, 131.6 million, 78.7 million | T he successful integration of the Lumo Energy business with the existing Red Energy\nbusiness progressed ahead of the integration plan and ahead of budget, allowing the retail business\nto deliver $131.6 million $2015: $78.7 million) EBITDA to the Group. | `other-pdfs/SHL_AnnRep_15-16.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_15-16.pdf)` |\n| $76.0 million, $86.0 million, $42.7 million, $49.2 million, 76.0 million, 86.0 million | Included within property, plant and equipment are right-of-use assets with a carrying value at 30\nJune 2022 of $76.0 million (2021: $86.0 million) in the land and buildings class, and $42.7 million\n(2021: $49.2 million) in the plant and equipment class. | `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)` |\n| $9.8 million, $9.5 million, $6.4 million, $6.3 million, 9.8 million, 9.5 million | Depreciation charged on these assets for\nthe period was $9.8 million (2021: $9.5 million) in the land and buildings class, and $6.4 million\n(2021: $6.3 million) in the plant and equipment class.\n● Depreciation: assets are depreciated at rates based upon their expected economic life using the\nstraight-line method. | `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)` |\n| $707.4 million, $45.1\nmillion, $806.7 million, $68.9 million, $421.9 million, $27.6 million | Of the total energy and commodity derivatives, $707.4 million (2021: $45.1\nmillion) of the asset and $806.7 million (2021: $68.9 million) of the liability is expected to mature within 12\nmonths, and $421.9 million (2021: $27.6 million) of the asset and $417.2 million (2021: $244.8 million) of the\nliability is expected to mature beyond 12 months. | `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)` |\n| 2.07\nemployees | Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities - Snowy 2.0 Project (contractor) and HPP (contractor) 0 1\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.07\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as determined Top quartile Second quartile\nby survey) of Global of Glob | `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)` |\n| 2.7\nemployees | Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities – Snowy 2.0 Project (contractor) and HPP (contractor) 0 0\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.7\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as Top quartile Second quartile\ndetermined by survey) of Global of Globa | `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)` |\n| 3.551\nemployees | Purpose Measure FY25 Targets FY25 Result\nPeople and Safety Fatalities - Snowy Hydro employees and supervised contractors 0 0\nFatalities - Snowy 2.0 Project (contractors) and Kurri Kurri Power Station 0 0\n(contractors)\nTotal reportable injury frequency rate (number per million hours worked; 2.4 3.551\nemployees and supervised contractors)\nEmployee engagement (percentage of staff very/extremely satisfied as determined Top quartile of the Second quar | `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)` |\n\n## Key Achievements\n\n- Achieved by delivering on Snowy Hydro’s strategic imperatives\n1 2 3 4 5\nWe maintain financial We strive for sustainable We keep people safe Through our strategic We aim for #1 in customer\ncredibility for the market business performance and engaged projects and operational service\nexcellence we underpin\nthe NEM’s transition to our\nrenewable energy future\n… which are incorporated in Snowy Hydro’s short-term and long-term measures\nCorporate KPIs (80%)\nStrategic Projects/\nFinancial Safety & Engagement Customer\nOperations\nGroup EBITDA Total Reportable Injury Safety Leadership and Delivery of Snowy 2.0 Net Promoter Score (NPS)\nFrequency Rate (TRIFR) / Cultural Improvement and HPP\nHigh Potential Incidents\n… and Snowy Hydro’s actual performance\nSnowy Hydro has delivered Generation achieved at The delivery of the Safety Snowy 2.0 made progress Our Retail brands (Red\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- Major achievements on the project during the financial year 2024, include:\n• Cavern crown excavation was completed for both the Machine and Transformer Halls in the underground\npower station;\n• Tunnel Boring Machine (TBM) Lady Eileen Hudson completed 3 kilometres of excavation in the 6 kilometre ‘tailrace’\ntunnel linking the power station to the lower Talbingo Reservoir;\n• TBM Kirsten is ready to commence excavation of the inclined pressure shaft (IPS) following the installation\nof 14 trial rings using concrete segments specifically designed for the very high water pressures that will be\nexperienced in the IPS;\n• Surface works continued, with significant progress at all major civil structures including the Marica surge shaft,\nupper and lower water intake structures and upper reservoir gate shaft; and\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [Page 115]\nCarbon Copy Events Status Timestamp\nChris Salkovic Sent: 31-Mar-22 | 09:25\ninfo@damsafety.nsw.gov.au Viewed: 04-Apr-22 | 14:46\nSecurity Level: Email, Account Authentication\n(Optional)\nElectronic Record and Signature Disclosure:\nNot Offered via DocuSign\nChris Salkovic Sent: 31-Mar-22 | 09:25\nchris.salkovic@damsafety.nsw.gov.au Viewed: 31-Mar-22 | 10:14\nSecurity Level: Email, Account Authentication\n(Optional)\nElectronic Record and Signature Disclosure:\nNot Offered via DocuSign\nWitness Events Signature Timestamp\nNotary Events Signature Timestamp\nEnvelope Summary Events Status Timestamps\nEnvelope Sent Hashed/Encrypted 31-Mar-22 | 09:03\nCertified Delivered Security Checked 31-Mar-22 | 09:25\nSigning Complete Security Checked 31-Mar-22 | 09:25\nCompleted Security Checked 31-Mar-22 | 09:25\nPayment Events Status Timestamps\nElectronic Record and Signature Disclosure\n Source: `annual-reports/2021.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021_Dam_Safety_Annual_Reports.pdf)`\n- [pages 115,116,117]\n| 09:25\ninfo@damsafety.nsw.gov.au Viewed: 04-Apr-22 | 14:46\nSecurity Level: Email, Account Authentication\n(Optional)\nElectronic Record and Signature Disclosure:\nNot Offered via DocuSign\nChris Salkovic Sent: 31-Mar-22 | 09:25\nchris.salkovic@damsafety.nsw.gov.au Viewed: 31-Mar-22 | 10:14\nSecurity Level: Email, Account Authentication\n(Optional)\nElectronic Record and Signature Disclosure:\nNot Offered via DocuSign\nWitness Events Signature Timestamp\nNotary Events Signature Timestamp\nEnvelope Summary Events Status Timestamps\nEnvelope Sent Hashed/Encrypted 31-Mar-22 | 09:03\nCertified Delivered Security Checked 31-Mar-22 | 09:25\nSigning Complete Security Checked 31-Mar-22 | 09:25\nCompleted Security Checked 31-Mar-22 | 09:25\nPayment Events Status Timestamps\nElectronic Record and Signature Disclosure\n Source: `annual-reports/2021.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021_Dam_Safety_Annual_Reports.pdf)`\n- The Property, Plant and Equipment;\ncomplexity of these judgements is increased due to the ● assessed the reasonableness of costs capitalised\nnumber of contractual obligations, construction during the period by:\nmilestones and timing involved in delivery of Snowy 2.0. ● testing, on a sample basis, capitalised costs to\ndetermine whether they were in accordance\nFor the year ended 30 June 2022 the Group reported\nwith the Group’s accounting policy;\ntotal construction in progress of $3 358.3 million.\n● making inquiries of the Group to understand\nthe status of the project, performance against\nbudget and the progress of construction at 30\nJune 2021, including corroboration to project\nreporting prepared by construction delivery\npartners;\n● tested variations to original forecast construction\ncosts by obtaining a sample of corroborating\nevidence including correspondence with delivery\npartners; and\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- Achieved by delivering on Snowy Hydro’s strategic imperatives\nHunter Power\n1 2 3 4 5\nWe maintain financial We strive for sustainable We keep people safe Through our strategic projects We aim for #1 in\ncredibility for the market business performance and engaged and operational excellence we customer service\nunderpin the NEM’s transition to\nour renewable energy future\n… which are incorporated in Snowy Hydro’s short-term and long-term measures\nCorporate KPIs (90%)\nFinancial Safety Strategic Projects/Operations Customer\nGroup EBITDA Credit rating Total Employees Delivery of S2.0 Reliability Net Promoter\n& negative Reportable Participation and HPP & Outage Score (NPS)\npledge Injury in Safety Compliance\ncovenant Frequency Rate Conversations\ncompliance (TRIFR)\n… and Snowy Hydro’s actual performance\nIn a challenging Credit Rating Generation Effective In the review On all key Red and Lumo\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- [pages 31,32]\nent on projects. compliance)\nrecognised\nplay a key role safety and risk our Hydro, Gas\nNegative Overall Snowy as the Most\nin maintaining management and Diesel\npledge 2.0 and HPP Trusted Brand\nsystem security from Snowy power stations\ncovenant projects in the utilities\nas the industry employees at and teams\ncompliance delivered and energy\ntransitions to all levels. delivered\nachieved as progress below sector as\nrenewable outstanding\nset out in the Retail exceeded projections with measured by\nenergy. results.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- [Page 52]\n50 Snowy Hydro Annual Report For the year ended 30 June 2023\nThe result delivered in 2023 has been strong against the backdrop of a very challenging year post the extraordinary\ncontribution to system security throughout the May/June 2022 energy crisis.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- During 2023–24, • evaluated the appropriateness of the recognition\nthe Group entered into a revised contract for\nof the provision for rehabilitation costs to\ndelivery of Snowy 2.0.\nconfirm that it was measured in accordance with\nFor the year ended 30 June 2024, the Group reported the requirements of AASB 137 Provisions,\ntotal construction in progress, which included Snowy Contingent Liabilities and Contingent Assets;\n2.0, of $8,164.0 million. • assessed the appropriateness of costs capitalised\nduring the period by:\ntesting, on a sample basis, capitalised costs\no\nto determine whether they were in\naccordance with the Group’s accounting\npolicy; and\nmaking inquiries of the Group to understand\no\nthe status of the project, performance\nagainst budget and the progress of\nconstruction at 30 June 2024, including\ncorroboration to project reporting prepared\nby construction delivery partners.\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [Page 17]\nSnowy Hydro FY25 Annual Report\nPioneering power: Building an energy legacy\nA source of The Renewable Snowy Hydro The National Australia signs\nnational pride, Energy (Electricity) acquires Red Greenhouse and the Paris\nthe Snowy Act 2000 comes into Energy, a Energy Reporting Agreement,\nScheme is effect, establishing challenger retail (NGER) Scheme committing to\ncompleted Australia’s first electricity brand is established reduce emissions\nwith 3,740 MW committed 26–28% below\nmandatory renewable to track carbon\ncapacity, later to putting 2005 levels by\nenergy target emissions and\nincreasing to customers first.\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n- Outcome consisting of Group Scorecard Outcome (80%) + Individual Scorecard\nOutcome (20%)\nThe corporate and individual scorecard is illustrated in the table below:\nType Key Result Area Weight Notwithstanding the achievement of the agreed KRAs, the Board has absolute discretion\nto make the final determination of the MD and CEO, KMP and other Executive variable\nScorecard KPIs Financial 30% payouts, including application of malus provisions to previous awards (if relevant).\n(Quantitative)(80%)\nSustainability (including Safety and Customer) 20% For MD and CEO only, any realised VR is subject to deferral as follows:\nGrowth (including Snowy 2.0, 30% ○ 75% paid Year 1 (vesting year);\nKurri Kurri Power Station)\n○ 15% paid Year 2; and\nIndividual Scorecard KPIs Sample KPIs may include depending on 20%\n(Qualitative) (20%) Corporate Plan: ○ 10% paid Year 3.\n• Major Programs of Work;\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n- Delivering on Snowy Hydro’s five core strategic elements\n1 2 3 4 5\nEnable the renewable Deliver reliability and energy security Promote market competition Deliver responsible environment and Develop and engage our people\nenergy transition\nOur operations are a significant Participating in the retail, C&I and community outcomes Our people are the key to Snowy’s\nOur electricity generating assets and contributor to the National Electricity wholesale energy markets enables Meeting our responsibilities as a minimum success and the future of renewable\nstorage support more wind and solar to Market’s reliability and to Australia’s competition to improve customer service and looking for the right opportunities to energy.\ncome online. energy security. standards and help reduce pressure on\ngo further.\nprices.\n… which are incorporated in Snowy Hydro’s short-term and long-term measures\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n\n## Key Issues, Risks, and Recommendations\n\n- Committee meetings\nBoard\nDirectors Audit & Portfolio Risk Safety, People & 2.0 Project\nmeetings]\nCompliance Operations, Culture Advisory\nEnvironment Risk\nH A H A H A H A H A H A\nDavid Knox [4] 10 10 5 5\nPaul Broad [4] 10 10 4 4\nRichard Sheppard[1] 8 8 3 3 4 4 1 1\nLeeanne Bond 10 10 4 4 4 4 11 11\nScott Mitchell 10 10 4 4 5 5 11 11\nKaren Moses 10 10 4 4 5 5\nSandra Dodds 10 10 4 4 3 3 1 1\nAnthony Shepherd 10 10 4 4 11 10\nLeanne Heywood[2] 2 2 1 1 1 1\nTimothy Longstaff[3] 2 2 1 1 1 1\n[1] Term ended on 31 March 2022\n[2] From the date of appointment on 21 March 2022\n[3] From the date of appointment on 1 April 2022\n[4] The Chair and the CEO attended all 28 Committee meetings held in FY22 irrespective of membership.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- H Number of meetings held during the time the Director held office or was a member of the Committee during the year\nA Number of meetings attended\nCommittee meetings\nBoard Safety,\nDirectors meetings Audit & Portfolio Risk Operations, People & Project\nCompliance Environment Culture Advisory\nRisk\nH A H A H A H A H A H A\nDavid Knox 11 11 10 10\nDennis Barnes1 5 5 4 2*\nLeeanne Bond 11 11 4 4 4 4 7 7\nScott Mitchell 11 10 4 3 10 10 7 7\nKaren Moses 11 11 4 4 10 10\nSandra Dodds 11 10 4 4 10 10 3 3\nAnthony Shepherd2 11 10 4 4 7 7\nLeanne Heywood3 11 11 4 4 4 4\nTimothy Longstaff 11 11 4 4 4 4\nPaul Broad4 2 2 1 1 1 1\n1 The CEO is a member of the Board Safety, Operations and Environment Risk Committee (BSOERC) and ex-officio attendee of other Board\nCommittees. *The CEO commenced on 1 February 2023 and attended all BSOERC meetings held during his period of office.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- [Page 116]\n114 Snowy Hydro Annual Report For the year ended 30 June 2023\nKey audit matter How the audit addressed the matter\nValuation, existence and completeness of financial In relation to the valuation, existence and completeness of\ninstruments – energy derivatives financial instruments, I performed the following procedures\n(in conjunction with our specialists):\nRefer to Note 7 ‘Other financial assets’, Note 15 ‘Other financial\nliabilities’ and Note 16 ‘Financial Instruments’ • assessed the design, implementation and operating\neffectiveness of key controls in the risk management\nThe Group enters into contracts to economically hedge risks\nprocess and systems related to the origination and\narising from exposure to future variability in energy prices.\nmaintenance of complete and accurate information\nThese contracts may contain terms that require recognition\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- H Number of scheduled meetings held during the time the Director held office or was a member of the\nCommittee during the year\nA Number of scheduled meetings attended\nCommittee meetings\nScheduled\nBoard\nSafety,\nDirectors meetings\nAudit & Operations, People &\n(excluding Portfolio Risk\nCompliance Environment Culture\nout-of-cycle)\nRisk\nH A H A H A H A H A\nDavid Knox 9 9 4 4\nDennis Barnes1 9 9 4 4\nLeeanne Bond2 9 9 4 4 4 4\nScott Mitchell 9 9 4 4 4 4\nKaren Moses 9 9 4 4 4 4\nSandra Dodds 9 9 4 4 4 4\nLeanne Heywood 9 9 4 4 4 4\nTimothy Longstaff 9 9 4 4 4 4\n1 T he CEO is a member of the Board Safety, Operations and Environment Risk Committee (BSOERC) and ex-officio attendee of other\nBoard Committees.\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [Page 147]\nRegulatory RCeopnosrotliindga tReedq Fuiinreamnceinatl sR Ienpdoerxt\nSection Subject Location Pages\n28E(o) An explanation of information not obtained from Not applicable -\na subsidiary of the company and the effect of not\nhaving the information on the annual report\n28E(oa) Information about executive remuneration Remuneration Report 21-38\n28E(ob) The following information about the audit (a) Corporate Governance Statement 67\ncommittee for the company: (b) – (d) Directors’ Report 13–16\n(a) a direct electronic address of the (e) Remuneration Report 21-38\ncharter determining the functions of the\naudit committee;\n(b) the name of each member of the\naudit committee;\n(c) the qualifications, knowledge, skills\nor experience of each member of the\naudit committee;\n(d) information about each member’s attendance\nat meetings of the audit committee;\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [Page 135]\nSnowy Hydro FY25 Annual Report\nPGPA Rule Reference Description Location Pages\nDescription\n28E(oa) Information about executive remuneration Remuneration Report 60-69\n28E(ob) The following information about the audit committee for the company:\n(a) a direct electronic address of the charter determining the functions of the audit committee; (a) Corporate 53\n(b) the name of each member of the audit committee; Governance Statement\n(b)–(d) Directors’ Report 41-45\n(c) the qualifications, knowledge, skills or experience of each member of the audit committee;\n(d) information about each member’s attendance at meetings of the audit committee;\n(e) the remuneration of each member of the audit committee\n(e) Remuneration Report 60-69\n28F Disclosure requirements for government business enterprises\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n- [Page 30]\nSnowy Hydro Limited\nNOTES TO THE FINANCIAL STATEMENTS\nFOR THE REPORTING PERIOD ENDED 28 JUNE 2014\nPeriod ended Period ended\n28 June 2014 29 June 2013\n4 Key management personnel remuneration $ $\nThe aggregate compensation of key management personnel of the consolidated entity is set out\nbelow:\nShort-term employee benefits 9,235,319 1 1,045,510\nPost-employment benefits 476,079 3 ,381,658\nTermination benefits 2,286,260 -\nOther long-term employee benefits (994,875) 79,789\n11,002,783 1 4,506,957\n5 Remuneration of auditors\nAuditor of parent entity\nAudit and review of the financial report 381,000 335,350\nAssurance Services\nCarbon Reporting 5,000 32,500\nOther non-audit services\nTaxation services 131,426 110,250\nOther non-audit services 9 ,000 60,750\n526,426 538,850\nAs at As at\n28 June 2014 29 June 2013\n6 Current trade and other receivables $M $M\nTrade receivables 2 71.1 167.2\n Source: `other-pdfs/SHL_AnnRep_13-14.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_13-14.pdf)`\n- Board of Audit & People & Culture Portfolio Risk Retail Safety Operations\nDirecto rs Compliance Operations & Environment\nRisk\nDirector Held Present Held Present Held Present Held Present Held Present Held Present\nN H Cornish I o b þ 4 4\nP A Broad o o 4 4\nL K Bond b 3 3 2 2\nN J Clark I o 4 4 2 2\nH L Coonan 9 o 4 4 4 4\nM F lhlein I o 4 4 o o 2 1\nJ C Morton o o 4 4 1 1 5 5\nW R Sheppard o 9 4 4 5 5\nAu d itor's I n de pe n de nc e Ðec la ration\nThe Auditor's independence declaration is included on page 9 of the financial report.\n Source: `other-pdfs/SHL_AnnRep_15-16.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_15-16.pdf)`\n- [Page 34]\nSnowy Hydro Limited\nCONSOLIDATED FINANCIAL REPORT\nFOR THE REPORTING PERIOD ENDED 2 JULY 2016\nRestated Period\nPeriod ended ended\n2 July 2016 27 June 2015\n4 Key management personnel remuneration $ $\nThe aggregate compensation of key management personnel of the consolidated entity is set out\nbelow:\nShort-term employee benefits 8,249,175 7,273,583\nPost-employment benefits 592,056 467,444\nOther long-term employee benefits 1,001,065 108,373\n9,842,296 7,849,400\n5 Remuneration of auditors\nAuditor of parent entity\nAudit or review of the financial report 542,000 636,000\nOther non-audit services\nTaxation services 187,621 111,755\n729,621 747,755\nAs at Restated As at\n2 July 2016 27 June 2015\n6 Trade and other receivables $M $M\nTrade receivables 387.0 445.8\nOther receivables 1.6 0.5\nAllowance for doubtful debts (31.8) (28.6)\n356.8 417.7\n7 Inventories\nInventories at cost 23.3 16.3\n Source: `other-pdfs/SHL_AnnRep_15-16.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_15-16.pdf)`\n- [Page 7]\nDirectors’ Meetings\nThe number of meetings of the Company’s board of directors and of each board committee held during the period\nended 30 June 2018, and the number of meetings attended by each director were:\nDirectors Board Committee meetings\nmeetings\nAudit and Portfolio Safety, People and Retail Snowy 2.0 Snowy 2.0\nCompliance Risk Operations Culture Operations Funding\nand\nEnvironment\nRisk\nH A H A H A H A H A H A H A H A\nNoel H Cornish AM 12 12 4 4 5 5 5 5\nPaul A Broad 12 12 4 2 2 2 5 5\nThe Hon.\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ended-30-June-2018-2.pdf)`\n- [Page 113]\nKey audit matter How the audit addressed the matter\nValuation, existence and completeness of In relation to the valuation, existence and completeness\nfinancial instruments – energy derivatives of financial instruments, I performed the following\nprocedures:\nRefer to Note 7 ‘Other financial assets’, Note 15 ‘Other\nfinancial liabilities’ and Note 16 ‘Financial Instruments’ ● assessed the design, implementation and operating\neffectiveness of selected controls in the risk\nThe Group enters into contracts to economically hedge\nmanagement process and systems related to the\nrisks arising from exposure to future variability in energy\norigination and maintenance of complete and\nprices.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- [Page 40]\n38 Snowy Hydro Annual Report For the year ended 30 June 2023\nCorporate Governance Framework\nShareholder\nCEO & MD Board of Directors\nBoard Committees\nAudit & Safety, Operations\nPeople & Culture Portfolio Risk Project Advisory Funding\nCompliance & Environment Risk\nCommittee Committee Committee Committee\nCommittee Committee\nKey Management Committees\nExecutive Safety.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- [Page 141]\nCInodnespoelidndateendt FAiundaintocria’sl RReeppoorrtt\nKey audit matter How the audit addressed the matter\nValuation, existence and completeness of In relation to the valuation, existence and\nfinancial instruments – energy derivatives completeness of financial instruments, I performed\nthe following procedures:\nRefer to Note 7 ‘Other financials assets’, Note 15\n‘Other financial liabilities’ and Note 16 ‘Financial • assessed the design, implementation and\nInstruments’. operating effectiveness of key controls in the risk\nmanagement process and systems related to the\nThe Group enters into contracts to economically\norigination and maintenance of complete and\nhedge risks arising from exposure to future variability\naccurate information relating to contracts\nin energy prices.\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- [Page 123]\nSnowy Hydro FY25 Annual Report\nKey audit matter How the audit addressed the matter\nValuation, existence and completeness of In relation to the valuation, existence and\nfinancial instruments – energy derivatives completeness of financial instruments, I performed\nthe following procedures:\nRefer to Note 7 ‘Other financials assets’, Note 15\n‘Other financial liabilities’ and Note 16 ‘Financial • assessed the design, implementation and\nInstruments’. operating effectiveness of key controls in the risk\nmanagement process and systems related to the\nThe Group enters into contracts to economically\norigination and maintenance of complete and\nhedge risks arising from exposure to future variability\naccurate information relating to contracts\nINDEPENDENT AUDITOR’S REPORT in energy prices.\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n\n## Corporate Values and Operating Culture\n\n- [Page 51]\nAAnbnouuat lS Rneopwoyrt Hydro Directors’ Report Corporate Governance Statement Remuneration Report Financial Report Other Information SSnnoowwyy HHyyddrroo FFYY2255 AAnnnnuuaall RReeppoorrtt\nCorporate\nGovernance Statement\nIn this section\nPrinciple 1: Lay solid foundations for management and oversight 51\nPrinciple 2: Structure the Board to be effective and add value 54\nPrinciple 3: Instil a culture of acting lawfully, ethically and responsibly 56\nPrinciple 4: Safeguard the integrity of corporate reports 56\nPrinciple 5: Make timely and balanced disclosure 57\nPrinciple 6: Respect the rights of shareholders 58\nPrinciple 7: Recognise and manage risk 58\nPrinciple 8: Remunerate fairly and responsibly 59\nImage captured by Emma Schoutrop, Plant Mechanical Engineer\n49\n Source: `annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)`\n- Snowy 2.0, HPP) / Operations / Customer 35.0%\n(90%)\nIndividual Individual focus component typically includes KPIs as follows:\nScorecard KPIs ● Major Programs of Work\n(Qualitative) ● Reputation and risk;\n● Stakeholders; and 10.0%\n● Safety, Leadership and Culture.\n(10%)\nTotal 100.0%\nThe individual focus component also allows for adjustment of quantitative performance outcomes up or down\ndepending on the circumstances in the external environment, changes in priorities not foreseen at the\nbeginning of the performance period and demonstration of company values and behaviours.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- At Risk • Annual performance-based remuneration aligned • Annual performance-based\nVariable to the strategic priorities of Snowy Hydro, individual remuneration aligned to\nRemune- areas of accountability and corporate values: the strategic priorities of\nration (VR) – 80% Group Balanced Scorecard (quantitative); Snowy Hydro, individual\n– 20% Individual Key Performance Indicators areas of accountability and\n(KPIs) (qualitative). corporate values:\n• VR is dependent on achieving performance – 80% Group Balanced\nscorecard measures over and above threshold Scorecard (quantitative); and\nperformance set by the Board and aligned to the – 20% Individual KPIs\nCorporate Plan. (qualitative).\n• The RT has determined that the Snowy Hydro MD • VR is dependent on achieving\nand CEO is eligible for VR up to 40% of FAR. performance scorecard measures\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n- At Risk • Annual performance-based remuneration aligned to • Annual performance-based remuneration aligned to\nVariable the strategic priorities of the Group, individual areas of the strategic priorities of the Group, individual areas of\nRemuneration accountability and corporate values: accountability and corporate values:\n1 (VR1) o 90% Group Balanced Scorecard (quantitative); o 90% Group Balanced Scorecard (quantitative); and\no 10% Individual Key Performance Indicators (KPIs) o 10% Individual Key Performance Indicators (KPIs)\n(qualitative). (qualitative).\n• VR1 is subject to the Safety KPI condition. • VR1 is subject to the Safety KPI condition and malus/\n• VR1 is dependent on achieving performance scorecard clawback terms.\nmeasures over and above threshold performance set • VR1 is dependent on achieving performance scorecard\nby the Board and aligned to the Corporate Plan.\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- [Page 22]\nSnowy Hydro Limited\nNOTES TO THE FINANCIAL STATEMENTS\nFOR THE REPORTING PERIOD ENDED 28 JUNE 2014\nProvisions made in respect of annual leave, long service leave, incentive payments and\nseverance benefits expected to be settled within 12 months, are measured at their nominal\nvalues using the remuneration rate expected to apply at the time of settlement.\n Source: `other-pdfs/SHL_AnnRep_13-14.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_13-14.pdf)`\n- [Page 105]\nNOTES TO THE CONSOLIDATED FINANCIAL\nSTATEMENTS\nFor the period ended 30 June 2022\n24 Defined benefit superannuation plan (continued)\nReconciliation of the Net Defined Benefit Liability/(Asset)\nImpact of\nminimum\nPresent Fair value funding\nvalue of of plan requirement/ Net\n$million obligation assets Total asset ceiling amount\n2021 22.0 (17.4) 4.6 - 4.6\nCurrent service cost - - - - -\nInterest expense/ (income) 0.6 (0.4) 0.2 - 0.2\nTotal amount recognised in profit or loss 0.6 (0.4) 0.2 - 0.2\nRemeasurements:\nReturn on plan assets, excluding amounts - (0.1) (0.1) - (0.1)\nincluded in interest expense\nActuarial gain from changes in (3.6) - (3.6) - (3.6)\ndemographic and financial assumptions\nActuarial gain from liability experience (0.2) - (0.2) - (0.2)\nChange in asset ceiling, excluding - - - 0.5 0.5\namounts included in interest expense\nTotal amount recognised in OCI (3.8) (0.1) (3.\n Source: `annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)`\n- Defined benefit superannuation plan (continued)\nReconciliation of the Net Defined Benefit Liability/(Asset)\n$million Present Fair value of Total Impact of Net amount\nvalue of plan assets minimum\nobligation funding\nrequirement/\nasset ceiling\n2022 17.8 (17.1) 0.7 0.5 1.2\nCurrent service cost - - - - -\nInterest expense/ (income) 1.0 (0.8) 0.2 - 0.2\nTotal amount recognised in profit or loss 1.0 (0.8) 0.2 - 0.2\nRemeasurements:\nReturn on plan assets, excluding amounts\nincluded in interest expense - (0.4) (0.4) - (0.4)\nActuarial gain from changes in demographic\nand financial assumptions (0.4) - (0.4) - (0.4)\nActuarial loss from liability experience 0.8 - 0.8 - 0.8\nChange in asset ceiling, excluding amounts\nincluded in interest expense - - - (0.2) (0.2)\nTotal amount recognised in OCI 0.4 (0.4) - (0.2) (0.2)\nContributions:\nEmployers - (0.3) (0.3) - (0.3)\nPlan participants - - - - -\n Source: `annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)`\n- Defined benefit superannuation plan (continued)\nReconciliation of the Net Defined Benefit Liability/(Asset)\nImpact of\nminimum\nPresent funding\nvalue of Fair value of requirement/\n$million obligation plan assets Total asset ceiling Net amount\n2023 18.1 (17.5) 0.6 0.3 0.9\nCurrent service cost - - - - -\nInterest expense/ (income) 1.0 (0.9) 0.1 - 0.1\nTotal amount recognised in profit\nor loss 1.0 (0.9) 0.1 - 0.1\nRemeasurements:\nReturn on plan assets, excluding\namounts included in interest\nexpense - (0.3) (0.3) - (0.3)\nActuarial loss from changes\nin demographic and financial\nassumptions 0.4 - 0.4 - 0.4\nActuarial loss from liability\nexperience 0.5 - 0.5 - 0.5\nChange in asset ceiling, excluding\namounts included in interest\nexpense - - - (0.3) (0.3)\nTotal amount recognised in OCI 0.9 (0.3) 0.6 (0.3) 0.3\nContributions:\nEmployers - (0.3) (0.3) - (0.3)\nPlan participants - - - - -\nPayments from plan:\n Source: `annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)`\n\n## Global Ideas and Case Study Inputs\n\n_No global-intelligence source text found yet. Run `CLAUDE/global-ideas-scraper.py ` to populate case-study sources._\n\n## Source Artifacts Used\n\n- `annual-reports/2021-22.pdf` - annual-reports - https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf\n- `annual-reports/2021.pdf` - annual-reports - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021_Dam_Safety_Annual_Reports.pdf\n- `annual-reports/2022-23.pdf` - annual-reports - https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf\n- `annual-reports/2023-24.pdf` - annual-reports - https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf\n- `annual-reports/2024-25.pdf` - annual-reports - https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf\n- `strategies/upper-murrumbidgee-dof-weekly-report.pdf` - strategies - https://www.snowyhydro.com.au/wp-content/uploads/pdfs/watrel/upper-murrumbidgee-dof-weekly-report.pdf\n- `strategies/HEZ-Annual-Emissions-Monitoring-2022.pdf` - strategies - https://www.snowyhydro.com.au/wp-content/uploads/2022/11/HEZ-Annual-Emissions-Monitoring-2022.pdf\n- `strategies/HEZ-Annual-Emissions-Monitoring-2023.pdf` - strategies - https://www.snowyhydro.com.au/wp-content/uploads/2023/07/HEZ-Annual-Emissions-Monitoring-2023.pdf\n- `strategies/HEZ-Annual-Emissions-Monitoring-2024.pdf` - strategies - https://www.snowyhydro.com.au/wp-content/uploads/2024/07/HEZ-Annual-Emissions-Monitoring-2024.pdf\n- `strategies/HEZ-Annual-Emissions-Monitoring-2025.pdf` - strategies - https://www.snowyhydro.com.au/wp-content/uploads/2025/06/HEZ-Annual-Emissions-Monitoring-2025.pdf\n- `pages/about.html` - pages - https://www.snowyhydro.com.au/about/our-company/\n- `pages/annual-reports-index.html` - pages - https://www.snowyhydro.com.au/about/reports/\n- `pages/annual-reports-index__00.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf\n- `pages/annual-reports-index__01.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf\n- `pages/annual-reports-index__02.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf\n- `pages/annual-reports-index__03.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf\n- `pages/annual-reports-index__04.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2021/10/Snowy-Hydro-Limited-Annual-Report-for-the-Year-Ended-30-June-2021-1.pdf\n- `pages/annual-reports-index__05.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2020/09/Annual-report-1920.pdf\n- `pages/annual-reports-index__06.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2020/04/Snowy-Hydro-Limited-Annual-report-for-the-year-ended-30-June-2019.pdf\n- `pages/annual-reports-index__07.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2020/04/2017-FINAL-SIGNED-Annual-Report.pdf\n- `pages/annual-reports-index__08.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SPERPAnnualReport2009MayEXESUMMARY.pdf\n- `pages/annual-reports-index__09.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021_Dam_Safety_Annual_Reports.pdf\n- `pages/annual-reports-index__10.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Eucumbene-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__11.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Eucumbene-Saddle-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__12.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Geehi-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__13.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Guthega-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__14.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Island-Bend-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__15.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Jindabyne-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__16.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Jounama-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__17.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Khancoban-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__18.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Murray-2-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__19.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Talbingo-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__20.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Tantangara-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__21.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Tooma-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__22.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Tumut-Pond-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__23.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Tumut-2-Dam-Annual-Report-DSNSW.pdf\n- `pages/annual-reports-index__24.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2022/05/2021-Tumut-3-Inlet-Structure-Annual-Report-DSNSW.pdf\n- `pages/contact.html` - pages - https://www.snowyhydro.com.au/contact/\n- `pages/homepage.html` - pages - https://www.snowyhydro.com.au/\n- `pages/leadership.html` - pages - https://www.snowyhydro.com.au/about/leadership/\n- `pages/media-releases-index.html` - pages - https://www.snowyhydro.com.au/news/snowy-hydro-releases-2025-community-benefits-report/\n- `pages/media-releases-index__25.html` - pages - https://www.snowyhydro.com.au/news/snowy-hydro-releases-2025-community-benefits-report/\n- `pages/media-releases-index__28.html` - pages - https://www.snowyhydro.com.au/?p=20817\n- `pages/media-releases-index__29.html` - pages - https://www.snowyhydro.com.au/wp-content/uploads/2026/04/Snowy-Mountains-Community-Benefits-Report-2025.pdf\n- `pages/news-latest.html` - pages - https://www.snowyhydro.com.au/news/\n- `other-pdfs/SHL_AnnRep_13-14.pdf` - other-pdfs - https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_13-14.pdf\n- `other-pdfs/SHL_AnnRep_15-16.pdf` - other-pdfs - https://www.snowyhydro.com.au/wp-content/uploads/2020/04/SHL_AnnRep_15-16.pdf\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pdf` - other-pdfs - https://www.snowyhydro.com.au/wp-content/uploads/2020/04/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ended-30-June-2018-2.pdf\n\n## Gaps To Fix\n\n- No corporate plan text source found.\n- No global comparison/case-study sources found.", "legislation_md": "# Snowy Hydro Trading Pty Ltd - Acts and Legislation Discovery\n\n**Generated at**: 2026-05-09T21:03:59.803933+00:00\n**Entity ID**: B-003895\n**Jurisdiction**: Commonwealth\n**Portfolio**: Climate Change, Energy, the Environment and Water\n\n> This is an evidence-based discovery list from scraped department material. A mention does not always mean the department administers the legislation; high-confidence and official register links should be reviewed.\n\n## Summary\n\n- Source files scanned: 50\n- Unique legislation references found: 45\n\n| Type | Count |\n|---|---:|\n| Act | 28 |\n| Determination | 7 |\n| Instrument | 4 |\n| Order | 1 |\n| Regulation | 5 |\n\n## Legislation References\n\n### Dams Safety Regulation 2019\n\n**Type**: Regulation\n**Confidence**: high\n**Mentions**: 15\n**Register search**: https://www.legislation.gov.au/search?query=Dams+Safety+Regulation+2019\n\n**Sources**:\n- `annual-reports/2021.pages.jsonl`\n\n**Evidence contexts**:\n- BB-9477-4B9E-8824-C76A94EA3A2C\nMurray 2 Dam\nSnowy Hydro Limited\nAnnual Dams Safety Standards Report\nMarch 2022\n\n[page 5]\nDocuSign Envelope ID: DC4529BB-9477-4B9E-8824-C76A94EA3A2C\nSnowy Hydro Limited (Snowy Hydro) as a declared dam owner is required\nunder the Dams Safety Regulation 2019 to publish an Annual Dam Safety\nStandards Report demonstrating Snowy Hydro Limited’s compliance with\nthe dam safety standards for the calendar year ending 31 December 2021.\nSnowy Hydro attests to the accuracy of the report.\nA separate report for each declared\n Source: `annual-reports/2021.pages.jsonl`\n- 9477-4B9E-8824-C76A94EA3A2C\nTalbingo Dam\nSnowy Hydro Limited\nAnnual Dams Safety Standards Report\nMarch 2022\n1\n\n[page 13]\nDocuSign Envelope ID: DC4529BB-9477-4B9E-8824-C76A94EA3A2C\nSnowy Hydro Limited (Snowy Hydro) as a declared dam owner is required\nunder the Dams Safety Regulation 2019 to publish an Annual Dam Safety\nStandards Report demonstrating Snowy Hydro Limited’s compliance with\nthe dam safety standards for the calendar year ending 31 December 2021.\nSnowy Hydro attests to the accuracy of the report.\nA separate report for each declared\n Source: `annual-reports/2021.pages.jsonl`\n- elope ID: DC4529BB-9477-4B9E-8824-C76A94EA3A2C\nGeehi Dam\nSnowy Hydro Limited\nAnnual Dams Safety Standards Report\nMarch 2022\n\n[page 20]\nDocuSign Envelope ID: DC4529BB-9477-4B9E-8824-C76A94EA3A2C\nSnowy Hydro Limited as a declared dam owner is required under the\nDams Safety Regulation 2019 to publish an Annual Dam Safety Standards\nReport demonstrating Snowy Hydro Limited’s compliance with the dam\nsafety standards for the calendar year ending 31 December 2021.\nSnowy Hydro attests to the accuracy of the report.\nA separate report for each declared\n Source: `annual-reports/2021.pages.jsonl`\n- -9477-4B9E-8824-C76A94EA3A2C\nKhancoban Dam\nSnowy Hydro Limited\nAnnual Dams Safety Standards Report\nMarch 2022\n\n[page 28]\nDocuSign Envelope ID: DC4529BB-9477-4B9E-8824-C76A94EA3A2C\nSnowy Hydro Limited (Snowy Hydro) as a declared dam owner is required\nunder the Dams Safety Regulation 2019 to publish an Annual Dam Safety\nStandards Report demonstrating Snowy Hydro Limited’s compliance with\nthe dam safety standards for the calendar year ending 31 December 2021.\nSnowy Hydro attests to the accuracy of the report.\nA separate report for each declared\n Source: `annual-reports/2021.pages.jsonl`\n- -8824-C76A94EA3A2C\nTumut 3 Inlet Structure\nSnowy Hydro Limited\nAnnual Dams Safety Standards Report\nMarch 2022\n\n[page 36]\nDocuSign Envelope ID: DC4529BB-9477-4B9E-8824-C76A94EA3A2C\nSnowy Hydro Limited (Snowy Hydro) as a declared dam owner is required\nunder the Dams Safety Regulation 2019 to publish an Annual Dam Safety\nStandards Report demonstrating Snowy Hydro Limited’s compliance with\nthe dam safety standards for the calendar year ending 31 December 2021.\nSnowy Hydro attests to the accuracy of the report.\nA separate report for each declared\n Source: `annual-reports/2021.pages.jsonl`\n\n### ASIC Class Order 2016\n\n**Type**: Order\n**Confidence**: high\n**Mentions**: 8\n**Register search**: https://www.legislation.gov.au/search?query=ASIC+Class+Order+2016\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n**Evidence contexts**:\n- ia 100 100\nTFI Partners Pty Ltd (a) (c) Australia 100 100\nDirect Connect Australia Pty Ltd (a) (c) Australia 100 100\nConnection Media Pty Ltd (a) (c) Australia 100 100\n(a) Entities which have entered into a deed of cross guarantee with Snowy Hydro pursuant to ASIC Class Order 2016/785 and are\nrelieved from the requirement to prepare and lodge audited financial reports.\n(b) Snowy Hydro Limited is the head entity within the tax consolidated group.\n(c) These companies are members of the tax consolidated group.\n96\n\n[page 99]\nNOTES TO THE C\n Source: `annual-reports/2021-22.pages.jsonl`\n- at the Parent Entity and the subsidiaries identified in Note 21\nwill be able to meet any obligations or liabilities to which they are, or may become, subject by virtue of\nthe Deed of Cross Guarantee between the Parent Entity and those subsidiaries pursuant to ASIC Class\nOrder 2016/785.\nSigned in accordance with a resolution of the Directors\nDavid Knox, Chair Paul Broad, Managing Director\n31 August 2022 31 August 2022\n108\n\n[page 111]\nMr David Knox\nChair\nSnowy Hydro Limited\nLot 3, Pier 8/9\n23 Hickson Road\nWalsh Bay NSW 2000\nSNOWY HYDRO L\n Source: `annual-reports/2021-22.pages.jsonl`\n- ia 100 100\nTFI Partners Pty Ltd (a) (c) Australia 100 100\nDirect Connect Australia Pty Ltd (a) (c) Australia 100 100\nConnection Media Pty Ltd (a) (c) Australia 100 100\n(a) Entities which have entered into a deed of cross guarantee with Snowy Hydro pursuant to ASIC Class Order 2016/785 and are relieved from\nthe requirement to prepare and lodge audited financial reports.\n(b) Snowy Hydro Limited is the head entity within the tax consolidated group.\n(c) These companies are members of the tax consolidated group.\n\n[page 101]\nConsolidated Fin\n Source: `annual-reports/2022-23.pages.jsonl`\n- at the Parent Entity and the subsidiaries identified in Note 21 will be able to\nmeet any obligations or liabilities to which they are, or may become, subject by virtue of the Deed of Cross Guarantee\nbetween the Parent Entity and those subsidiaries pursuant to ASIC Class Order 2016/785.\nSigned in accordance with a resolution of the Directors\nDavid Knox, Chair Dennis Barnes, Managing Director\n4 September 2023 4 September 2023\n\n[page 114]\n112 Snowy Hydro Annual Report For the year ended 30 June 2023\nMr David Knox\nChair\nSnowy Hydro Limited\n Source: `annual-reports/2022-23.pages.jsonl`\n- ia 100 100\nTFI Partners Pty Ltd (a) (c) Australia 100 100\nDirect Connect Australia Pty Ltd (a) (c) Australia 100 100\nConnection Media Pty Ltd (a) (c) Australia 100 100\n(a) Entities which have entered into a deed of cross guarantee with Snowy Hydro pursuant to ASIC Class\nOrder 2016/785 and are relieved from the requirement to prepare and lodge audited financial reports.\n(b) Snowy Hydro Limited is the head entity within the tax consolidated group.\n(c) These companies are members of the tax consolidated group.\n123\n\n[page 126]\nSnowy Hydro\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Auditor-General Act 1997\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 8\n**Register search**: https://www.legislation.gov.au/search?query=Auditor-General+Act+1997\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- ANAO) has contracted Deloitte Touche Tohmatsu to audit Snowy Hydro\nLimited and its Controlled Entities on behalf of the Auditor-General.\nThe Auditor-General is able to conduct a performance audit of a Commonwealth company, in the\ncircumstances outlined in the Auditor-General Act 1997.\nWebsite address\nwww.snowyhydro.com.au\n2\n\n[page 5]\nCHAIR AND CHIEF EXECUTIVE OFFICER’S MESSAGE\nIn a broadly challenging 12 months, Snowy Hydro has delivered a strong performance across the entire group\nwhile playing a key role in maintaining system security d\n Source: `annual-reports/2021-22.pages.jsonl`\n- include the\nrelevant independence requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of\nEthics for Professional Accountants (including Independence Standards) (the Code) to the extent that they are not in\nconflict with the Auditor-General Act 1997. I have also fulfilled my other responsibilities in accordance with the Code.\nI confirm that the independence declaration required by the Corporations Act 2001, which has been given to the\ndirectors of the Company, would be in the same terms if given to the d\n Source: `annual-reports/2021-22.pages.jsonl`\n- NAO)\nhas contracted Deloitte Touche Tohmatsu to audit Snowy Hydro Limited and its Controlled Entities on behalf of the Auditor-\nGeneral.\nThe Auditor-General is able to conduct a performance audit of a Commonwealth company, in the circumstances outlined in\nthe Auditor-General Act 1997.\nWebsite address\nwww.snowyhydro.com.au\n\n[page 5]\n3\nChair and Chief Executive Officer’s\nmessage\nIn a period of significant change in Australia’s energy markets, the National Electricity Market (NEM) is being substantially\nreshaped to support the transition to\n Source: `annual-reports/2022-23.pages.jsonl`\n- include the relevant independence requirements of the\nAccounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including\nIndependence Standards) (the Code) to the extent that they are not in conflict with the Auditor-General Act 1997. I have also\nfulfilled my other responsibilities in accordance with the Code.\nI believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.\nKey audit matters\nKey audit matters are those matters that, in my\n Source: `annual-reports/2022-23.pages.jsonl`\n- ANAO) has contracted Deloitte Touche Tohmatsu to audit Snowy Hydro Limited and its Controlled Entities on behalf of\nthe Auditor-General.\nThe Auditor-General is able to conduct a performance audit of a Commonwealth company, in the circumstances\noutlined in the Auditor-General Act 1997.\nWebsite address\nwww.snowyhydro.com.au\n2\n\n[page 5]\nChair and Chief Executive Officer’s\nMessage\nSnowy Hydro is one of the most important contributors to an energy landscape\nundergoing a fundamental and critical shift on the road to net-zero.\nThis year, our ele\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Australian Accounting Standards and the Corporations Act 2001\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 6\n**Register search**: https://www.legislation.gov.au/search?query=Australian+Accounting+Standards+and+the+Corporations+Act+2001\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- quired to report that fact. I have nothing to report in this regard.\nDirectors’ responsibility for the financial report\nThe directors of the Company are responsible for the preparation of the financial report that gives a true and fair view\nin accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the\ndirectors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is\nfree from material misstatement, whether due to fraud or error.\nIn preparing the financial report, t\n Source: `annual-reports/2021-22.pages.jsonl`\n- report in this regard.\n\n[page 119]\nConsolidated Financial Report 117\nDirectors’ responsibility for the financial report\nThe directors of the Company are responsible for the preparation of the financial report that gives a true and fair view in\naccordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors\ndetermine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material\nmisstatement, whether due to fraud or error.\nIn preparing the financial report, t\n Source: `annual-reports/2022-23.pages.jsonl`\n- gard.\nDirectors’ responsibility for the financial report\nThe directors of the Company are responsible for the preparation of:\n(a) the financial report (other than the consolidated entity disclosure statement) that gives a true and fair view\nin accordance with Australian Accounting Standards and the Corporations Act 2001; and\n(b) the consolidated entity disclosure statement that is true and correct and in accordance with the\nCorporations Act 2001; and\nfor such internal control as the directors determine is necessary to enable the preparation of:\n(a) the financial report (othe\n Source: `annual-reports/2023-24.pages.jsonl`\n- he Company are responsible for the preparation of:\nagainst budget and the progress of (a) the financial report (other than the consolidated entity disclosure statement) that gives a true and fair view\nconstruction at 30 June 2025, including in accordance with Australian Accounting Standards and the Corporations Act 2001; and\ncorroboration to project reporting prepared\nby construction delivery partners. (b) the consolidated entity disclosure statement that is true and correct and in accordance with the\nCorporations Act 2001; and\nKey audit matter How the audit addressed the ma\n Source: `annual-reports/2024-25.pages.jsonl`\n- report that fact. We have nothing to report in this regard.\nResponsibilities of the Directors for the Financial Report\nThe directors of the Company are responsible for the preparation of the financial report that gives a\ntrue and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001\nand for such internal control as the directors determine is necessary to enable the preparation of\nthe financial report that gives a true and fair view and is free from material misstatement, whether\ndue to fraud or error.\nIn preparing the financial report, t\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n### Australian Accounting Standards and the Corporations Regulations 2001\n\n**Type**: Regulation\n**Confidence**: high\n**Mentions**: 6\n**Register search**: https://www.legislation.gov.au/search?query=Australian+Accounting+Standards+and+the+Corporations+Regulations+2001\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- the Group’)\nfor the year ended 30 June 2022 is in accordance with the Corporations Act 2001, including:\n(a) giving a true and fair view of the Group’s financial position as at 30 June 2022 and of its performance for the year\nthen ended; and\n(b) complying with Australian Accounting Standards and the Corporations Regulations 2001.\nThe financial report of the Group, which I have audited, comprises the following as at 30 June 2022 and for the year\nthen ended:\n● Consolidated Statement of Profit or Loss;\n● Consolidated Statement of Comprehensive Income;\n● Consolidated Statement of Financi\n Source: `annual-reports/2021-22.pages.jsonl`\n- the Group’) for the year\nended 30 June 2023 is in accordance with the Corporations Act 2001, including:\n(a) giving a true and fair view of the Group’s financial position as at 30 June 2023 and of its performance for the year\nthen ended; and\n(b) complying with Australian Accounting Standards and the Corporations Regulations 2001.\nThe financial report of the Group, which I have audited, comprises the following as at 30 June 2023 and for the year\nthen ended:\n• Consolidated Statement of Profit or Loss;\n• Consolidated Statement of Comprehensive Income;\n• Consolidated Statement of Financi\n Source: `annual-reports/2022-23.pages.jsonl`\n- the\nGroup’) for the year ended 30 June 2024 is in accordance with the Corporations Act 2001, including:\n(a) giving a true and fair view of the Group’s financial position as at 30 June 2024 and of its performance for\nthe year then ended; and\n(b) complying with Australian Accounting Standards and the Corporations Regulations 2001.\nThe financial report of the Group, which I have audited, comprises the following as at 30 June 2024 and for the\nyear then ended:\n• Consolidated Statement of Profit or Loss;\n• Consolidated Statement of Comprehensive Income;\n• Consolidated Statement of Financi\n Source: `annual-reports/2023-24.pages.jsonl`\n- assess the appropriateness of\nyear then ended; and financial instruments. The process for accounting for the accounting treatment determined by the\nand estimating a fair value for these financial Group to assess whether it complied with the\n(b) complying with Australian Accounting Standards and the Corporations Regulations 2001.\ninstruments is inherently complex due to: recognition requirements of AASB 9 and\nThe financial report of the Group, which I have audited, comprises the following as at 30 June 2025 and for the AASB 13 Fair Value Measurement;\nyear then ended: • the judgement\n Source: `annual-reports/2024-25.pages.jsonl`\n- ng financial report of the Group is in accordance with the Corporations\nAct 2001, including:\n(i) giving a true and fair view of the Group’s financial position as at 30 June 2018 and of its\nfinancial performance for the year then ended; and\n(ii) complying with Australian Accounting Standards and the Corporations Regulations 2001.\nBasis for Opinion\nWe conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under\nthose standards are further described in the Auditor’s Responsibilities for the Audit of the Financial\nReport section of our report. We are\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n### ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016\n\n**Type**: Instrument\n**Confidence**: high\n**Mentions**: 5\n**Register search**: https://www.legislation.gov.au/search?query=ASIC+Corporations+%28Rounding+in+Financial%2FDirectors%E2%80%99+Reports%29+Instrument+2016\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n**Evidence contexts**:\n- ompany is a party, for the purpose of\ntaking responsibility on behalf of the Company for all or part of those proceedings. Snowy Hydro was not a party\nto any such proceedings during the year.\nRounding\nThe Company is of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument\n2016/191, dated 24 March 2016, and in accordance with that Corporations Instrument amounts in the Directors’\nReport and the Financial Report have been rounded off to the nearest one hundred thousand dollars, unless\notherwise indicated.\nNon-audit services\nThe Compa\n Source: `annual-reports/2021-22.pages.jsonl`\n- ompany is a party, for the purpose of taking responsibility on behalf\nof the Company for all or part of those proceedings. Snowy Hydro was not a party to any such proceedings during the year.\nRounding\nThe Company is of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191,\ndated 24 March 2016, and in accordance with that Corporations Instrument amounts in the Directors’ Report and the Financial\nReport have been rounded off to the nearest one hundred thousand dollars, unless otherwise indicated.\nNon-audit services\nThe Compa\n Source: `annual-reports/2022-23.pages.jsonl`\n- a party, for the purpose of taking\nresponsibility on behalf of Snowy Hydro for all or part of those proceedings. Snowy Hydro was not a party to any such\nproceedings during the year.\nRounding\nSnowy Hydro is a company of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports)\nInstrument 2016/191, dated 24 March 2016, and in accordance with that Corporations Instrument amounts in the\nDirectors’ Report and the Financial Report have been rounded off to the nearest one hundred thousand dollars,\nunless otherwise indicated.\nNon-audit services\nThe Compa\n Source: `annual-reports/2023-24.pages.jsonl`\n- s and regulations of the Commonwealth and States.\nFor the year ended 30 June 2025:\nRounding\n• There were zero publicly reportable breaches of Snowy Hydro's Environmental\nProtection Licences. Snowy Hydro is a company of a kind referred to in ASIC Corporations (Rounding\nin Financial/Directors’ Reports) Instrument 2016/191, dated 24 March 2016, and in\n• In relation to the Kurri Kurri Power Station project, Snowy Hydro did not record any\naccordance with that Corporations Instrument amounts in the Directors’ Report and the\nenvironmental incidents which were reportable to any\n Source: `annual-reports/2024-25.pages.jsonl`\n- ompany is a party, for the purpose of taking\nresponsibility on behalf of the Company for all or part of those proceedings. Snowy Hydro was not a party to any\nsuch proceedings during the year.\nRounding\nThe Company is of a kind referred to in ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument\n2016/191, dated 24 March 2016, and in accordance with that Corporations Instrument amounts in the Directors’\nReport and the Financial Report have been rounded off to the nearest one hundred thousand dollars, unless\notherwise indicated.\nNon-audit services\nSnowy Hyd\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n### Accounting Standards, the Corporations Regulations 2001\n\n**Type**: Regulation\n**Confidence**: high\n**Mentions**: 5\n**Register search**: https://www.legislation.gov.au/search?query=Accounting+Standards%2C+the+Corporations+Regulations+2001\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n**Evidence contexts**:\n- 6\n107\n\n[page 110]\nDIRECTORS’ DECLARATION\nThe Directors of Snowy Hydro Limited (the Company) declare that, in their opinion:\n(a) the attached financial statements and notes thereto are in accordance with the Corporations Act 2001,\nincluding:\n(i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory\nprofessional reporting requirements; and\n(ii) giving a true and fair view of the financial position as at 30 June 2022 and of the performance for the\nperiod ended on that date of Snowy Hydro; and\n(b) there are reasonable grounds to believe\n Source: `annual-reports/2021-22.pages.jsonl`\n- ancial Report 111\nDirectors’ Declaration\nThe Directors of Snowy Hydro Limited (the Company) declare that, in their opinion:\n(a) the attached financial statements and notes thereto are in accordance with the Corporations Act 2001, including:\n(i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory\nprofessional reporting requirements; and\n(ii) giving a true and fair view of the financial position as at 30 June 2023 and of the performance for the period\nended on that date of Snowy Hydro; and\n(b) there are reasonable grounds to believe\n Source: `annual-reports/2022-23.pages.jsonl`\n- FY24 Annual Report\nDirectors’ Declaration\nThe Directors of Snowy Hydro Limited (the Company) declare that, in their opinion:\n(a) the attached financial statements and notes thereto are in accordance with the Corporations Act 2001,\nincluding:\ni. complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory professional\nreporting requirements; and\nii. giving a true and fair view of the financial position as at 30 June 2024 and of the performance for the\nperiod ended on that date of Snowy Hydro; and\n(b) there are reasonable grounds to believe\n Source: `annual-reports/2023-24.pages.jsonl`\n- tion\nDirectors’ Declaration\nThe Directors of Snowy Hydro Limited (the Company) declare that, in their opinion:\n(a) the attached financial statements and notes thereto are in accordance with the\nCorporations Act 2001, including:\nMr James Cain\ni. complying with Accounting Standards, the Corporations Regulations 2001 Chair\nSnowy Hydro Limited\nand other mandatory professional reporting requirements; and 2 Monaro Highway\nCooma NSW 2630\nii. giving a true and fair view of the financial position as at 30 June 2025 and\nof the performance for the period ended on that date of Sno\n Source: `annual-reports/2024-25.pages.jsonl`\n- .\n57\n\n[page 58]\nDirectors’ Declaration\nThe Directors of Snowy Hydro Limited (the Company) declare that, in their opinion:\n(a) the attached financial statements and notes thereto are in accordance with the Corporations Act 2001,\n​\nincluding:\n(i) complying with Accounting Standards, the Corporations Regulations 2001 and other mandatory\n​ ​\nprofessional reporting requirements; and\n(ii) giving a true and fair view of the financial position as at 30 June 2018 and of the performance for the\nperiod ended on that date of Snowy Hydro; and\n(b) there are reasonable grounds to bel\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n### Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016\n\n**Type**: Instrument\n**Confidence**: high\n**Mentions**: 5\n**Register search**: https://www.legislation.gov.au/search?query=Corporations+%28Rounding+in+Financial%2FDirectors%E2%80%99+Reports%29+Instrument+2016\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n**Evidence contexts**:\n- e shown in the financial statements, amounts have been rounded to the nearest one hundred\nthousand dollars and are shown as $million. Snowy Hydro is a company of the kind referred to in the Australian\nSecurities and Investments Commission (ASIC) Corporations (Rounding in Financial/Directors’ Reports)\nInstrument 2016/191, dated 24 March 2016.\nBasis of consolidation\nThe consolidated financial statements are prepared by combining the financial statements of all the entities\nthat comprise the consolidated entity, being the Company and its controlled entities as defined in Ac\n Source: `annual-reports/2021-22.pages.jsonl`\n- e shown in the financial statements, amounts have been rounded to the nearest one hundred thousand dollars\nand are shown as $million. Snowy Hydro is a company of the kind referred to in the Australian Securities and Investments\nCommission (ASIC) Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, dated 24 March 2016.\nBasis of consolidation\nThe consolidated financial statements are prepared by combining the financial statements of all the entities that comprise the\nconsolidated entity, being the Company and its controlled entities as defined in Ac\n Source: `annual-reports/2022-23.pages.jsonl`\n- e shown in the financial statements, amounts have been rounded to the nearest one hundred thousand\ndollars and are shown as $million. Snowy Hydro is a company of the kind referred to in the Australian Securities and\nInvestments Commission (ASIC) Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, dated\n24 March 2016.\nBasis of consolidation\nThe consolidated financial statements are prepared by combining the financial statements of all the entities that\ncomprise the consolidated entity, being the Company and its controlled entities as defined in Ac\n Source: `annual-reports/2023-24.pages.jsonl`\n- h the Public Governance, Performance and Accountability Rule 2014\ncompany of the kind referred to in the Australian Securities and Investments Commission\nthis Annual Report 2025 refers to the period from 1 July 2024 to 30 June 2025. Snowy\n(ASIC) Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, dated\nHydro’s 2024 Annual Report represented the reporting period 1 July 2023 to 30 June\n24 March 2016.\n2024.\n76\n\n[page 79]\nSnowy Hydro FY25 Annual Report\nCritical accounting judgements and key sources of estimation uncertainty Group structure\nExplains a\n Source: `annual-reports/2024-25.pages.jsonl`\n- ise shown in the financial statements, amounts have been rounded to the nearest tenth of a\nmillion dollars and are shown by $million. Snowy Hydro is a company of the kind referred to in the\nAustralian Securities and Investments Commission (ASIC) Corporations (Rounding in Financial/ Directors’\nReports) Instrument 2016/191, dated 24 March 2016.\nBasis of consolidation\nThe consolidated financial statements are prepared by combining the financial statements of all the\nentities that comprise the consolidated entity, being the Company and its controlled entities as defined in\nAc\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n### Superannuation Industry (Supervision) Act 1993\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 5\n**Register search**: https://www.legislation.gov.au/search?query=Superannuation+Industry+%28Supervision%29+Act+1993\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n**Evidence contexts**:\n- rs.\n101\n\n[page 104]\nNOTES TO THE CONSOLIDATED FINANCIAL\nSTATEMENTS\nFor the period ended 30 June 2022\n24 Defined benefit superannuation plan (continued)\nDescription of the regulatory framework\nThe Schemes are primarily regulated by the Superannuation Industry (Supervision) Act 1993 (Cth) (\"the\nSIS legislation\").\nThe Schemes have received an exemption from detailed annual actuarial valuations and therefore\ndetailed actuarial valuations are only required triennially. The last actuarial valuation of the Schemes was\nperformed as at 30 June\n Source: `annual-reports/2021-22.pages.jsonl`\n- ended 30 June 2023\nNotes to the Consolidated Financial\nStatements\nFor the period ended 30 June 2023\n24. Defined benefit superannuation plan (continued)\nDescription of the regulatory framework\nThe Schemes are primarily regulated by the Superannuation Industry (Supervision) Act 1993 (Cth) (“the SIS legislation”).\nThe Schemes have received an exemption from detailed annual actuarial valuations and therefore detailed actuarial valuations\nare only required triennially. The last actuarial valuation of the Schemes was performed as at 30 June\n Source: `annual-reports/2022-23.pages.jsonl`\n- on plan (continued)\nDescription of the regulatory framework\nOn 12 May 2013, all Pool B assets and liabilities of EISS were transferred to Cbus under a Successor Fund Transfer\n(SFT) agreement.\nThe Schemes are primarily regulated by the Superannuation Industry (Supervision) Act 1993 (Cth) (the SIS legislation).\nSSS and SANCS have received an exemption from detailed annual actuarial valuations and therefore detailed actuarial\nvaluations are only required triennially. The last actuarial valuation of the Schemes was performed as at 30 June\n Source: `annual-reports/2023-24.pages.jsonl`\n- nd\nDescription of the regulatory framework\n• State Authorities Non-contributory Superannuation Scheme (SANCS)\nThe SASS, SSS and SANCS schemes are part of the same pooled funds and are therefore Cbus Super is primarily regulated by the Superannuation Industry (Supervision) Act 1993\ntreated together for the defined benefit scheme financial statement disclosures below. (Cth) (the SIS legislation), but is also subject to regulation under the Superannuation\nAdministration Act 1996 (NSW). The rest of the Schemes are governed by the following\n Source: `annual-reports/2024-25.pages.jsonl`\n- its on retirement, death, disablement and\nwithdrawal. These schemes are here forth referred to as the ‘Schemes’. The Schemes are closed to new\nmembers.\nDescription of the regulatory framework\nThe Schemes are primarily regulated by the Superannuation Industry (Supervision) Act 1993 (Cth) (\"the\nSIS legislation\").\nThe Schemes have received an exemption from detailed annual actuarial valuations and therefore\ndetailed actuarial valuations are only required triennially. The last actuarial valuation of the Schemes was\nperformed as at 30 June\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n### Public Governance, Accountability and Performance Act 2013\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 3\n**Register search**: https://www.legislation.gov.au/search?query=Public+Governance%2C+Accountability+and+Performance+Act+2013\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- Timothy Longstaff (appointed 1 April 2022)\nGAICD BEc, FCA, GAICD, F.Fin\nKaren Moses Richard Sheppard (term ended 31 March 2022)\nBEcon, Dip Ed, FAICD BEc (Hons)\nPrincipal registered office\nMonaro Highway\nCooma NSW 2630\nAustralia\nAuditor\nUnder Section 98 of the Public Governance, Accountability and Performance Act 2013 (PGPA Act), the\nAuditor-General is responsible for auditing the financial statements of Commonwealth companies. The\nAustralian National Audit Office (ANAO) has contracted Deloitte Touche Tohmatsu to audit Snowy Hydro\nLimited and its Controlled Entities on beh\n Source: `annual-reports/2021-22.pages.jsonl`\n- e Bond Leanne Heywood\nBE (Chem), MBA, HonFIEAust, FTSE, FAICD OAM, B.Bus (Acc), MBA, FCPA, GAICD\nScott Mitchell Timothy Longstaff\nGAICD BEc, FCA, GAICD, SF.Fin\nPrincipal registered office\nMonaro Highway\nCooma NSW 2630\nAustralia\nAuditor\nUnder Section 98 of the Public Governance, Accountability and Performance Act 2013 (PGPA Act), the Auditor-General is\nresponsible for auditing the financial statements of Commonwealth companies. The Australian National Audit Office (ANAO)\nhas contracted Deloitte Touche Tohmatsu to audit Snowy Hydro Limited and its Controlled Entities on beh\n Source: `annual-reports/2022-23.pages.jsonl`\n- A Econ (Hons), GAICD\nKaren Moses Leeanne Bond (retired 30 June 2024)\nBEcon, Dip Ed, FAICD BE (Chem), MBA, HonFIEAust, FTSE, FAICD\nSandra Dodds\nBCom, FCA, GAICD\nPrincipal registered office\nMonaro Highway\nCooma NSW 2630\nAustralia\nAuditor\nUnder Section 98 of the Public Governance, Accountability and Performance Act 2013 (PGPA Act), the Auditor-General\nis responsible for auditing the financial statements of Commonwealth companies. The Australian National Audit Office\n(ANAO) has contracted Deloitte Touche Tohmatsu to audit Snowy Hydro Limited and its Controlled Entities on beh\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Public Governance, Performance and Accountability Act 2013\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 3\n**Register search**: https://www.legislation.gov.au/search?query=Public+Governance%2C+Performance+and+Accountability+Act+2013\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n**Evidence contexts**:\n- tor\n4\n\n[page 7]\nOUR PURPOSE AND OBJECTIVES\nSnowy Hydro is a public company incorporated under the Corporations Act 2001 (Cth) (Corporations Act),\nwholly owned by the Commonwealth, and is a Commonwealth Company and Government Business Enterprise\nsubject to the Public Governance, Performance and Accountability Act 2013 (Cth) (PGPA Act).\nThe Company’s strengths and future aspirations are captured in its Purpose, to “deliver Australia’s renewable\nenergy future”. This reflects the leading role that the Company is playing in underpinning the reliability and\nstability of east co\n Source: `annual-reports/2021-22.pages.jsonl`\n- cer\n\n[page 7]\n5\nOur Purpose and Objectives\nSnowy Hydro is a public company incorporated under the Corporations Act 2001 (Cth) (Corporations Act), wholly owned by the\nCommonwealth, and is a Commonwealth Company and Government Business Enterprise subject to the Public Governance,\nPerformance and Accountability Act 2013 (Cth) (PGPA Act).\nThe Company’s strengths and future aspirations are captured in its Purpose, to “deliver Australia’s renewable energy future”.\nThis reflects the leading role that the Company is playing in underpinning the reliability and stability of east co\n Source: `annual-reports/2022-23.pages.jsonl`\n- ned by the New South Wales and Victorian governments respectively. The Company\ncontinues to operate as a Corporation Law company with an independent Board of Directors.\nAs a result of the Commonwealth assuming full ownership, the Company became subject to the Public Governance,\nPerformance and Accountability Act 2013 (PGPA Act) and related legislative instruments, which are effective for\nfinancial reporting purposes from its 2019 annual reporting period.\n3\n\n[page 4]\nIn the opinion of the Directors there were no other significant changes in the state of affairs of Snowy Hy\n Source: `other-pdfs/FINAL-SIGNED-24.09.18-Snowy-Hydro-Limited-Financial-Statements-for-the-Year-Ende.pages.jsonl`\n\n### Cwlth), the Environmental Planning and Assessment Act 1979\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Cwlth%29%2C+the+Environmental+Planning+and+Assessment+Act+1979\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- not been\ndisclosed in this report.\nEnvironmental Regulations\nThe consolidated entity is subject to the full range of Commonwealth, Victorian and New South\nWales environmental laws including the Environmental Protection and Biodiversity Conservation\nAct 1999 (Cwlth), the Environmental Planning and Assessment Act 1979 (NSW), the Protection\nof the Environment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW)\nand the Contaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko National Park, Snowy Hydro’s operations are subject to both the\nKosc\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- not been disclosed in this\nreport.\nEnvironmental Regulations\nThe consolidated entity is subject to the full range of Commonwealth, Victorian and New South Wales\nenvironmental laws including the Environmental Protection and Biodiversity Conservation Act 1999\n(Cwlth), the Environmental Planning and Assessment Act 1979 (NSW) , the Protection of the\nEnvironment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW) and the\nContaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko National Park, Snowy Hydro’s operations are subject to both the Kos\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### Environmental Planning and Assessment Act 1979\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Environmental+Planning+and+Assessment+Act+1979\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- are plans of\nmanagement made under the National Parks and Wildlife Act 1974 (NSW). The latter is\nspecifically enforceable against Snowy Hydro through regulation.\nOn corporatisation, the Snowy Scheme was given deemed planning approvals for the purposes\nof the Environmental Planning and Assessment Act 1979 (NSW) and the Local Government Act\n1993 (NSW). Any future development by Snowy Hydro is subject to the standard approval\nprocesses under relevant legislation.\nFor completeness it should also be noted that under Part 5 of the Snowy Hydro Corporatisation\nAct 19\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- are plans of management made under\nthe National Parks and Wildlife Act 1974 (NSW). The latter is specifically enforceable against Snowy\nHydro through regulation.\nOn corporatisation, the Snowy Scheme was given deemed planning approvals for the purposes of the\nEnvironmental Planning and Assessment Act 1979 (NSW) and the Local Government Act 1993\n6\n\n[page 8]\nSnowy Hydro Limited\nCONSOLIDATED FINANCIAL REPORT\nFOR THE REPORTING PERIOD ENDED 2 JULY 2016\n(NSW). Any future development by Snowy Hydro is subject to the standard approval processes\nunder relevant legislat\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### Environmental Protection and Biodiversity Conservation Act 1999\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Environmental+Protection+and+Biodiversity+Conservation+Act+1999\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- ice to the consolidated entity. Accordingly, this information has not been\ndisclosed in this report.\nEnvironmental Regulations\nThe consolidated entity is subject to the full range of Commonwealth, Victorian and New South\nWales environmental laws including the Environmental Protection and Biodiversity Conservation\nAct 1999 (Cwlth), the Environmental Planning and Assessment Act 1979 (NSW), the Protection\nof the Environment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW)\nand the Contaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko National\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- ice to the consolidated entity. Accordingly, this information has not been disclosed in this\nreport.\nEnvironmental Regulations\nThe consolidated entity is subject to the full range of Commonwealth, Victorian and New South Wales\nenvironmental laws including the Environmental Protection and Biodiversity Conservation Act 1999\n(Cwlth), the Environmental Planning and Assessment Act 1979 (NSW) , the Protection of the\nEnvironment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW) and the\nContaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko Nationa\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### Renewable Energy (Electricity) Act 2000\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Renewable+Energy+%28Electricity%29+Act+2000\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- y River and the montane rivers within the Snowy Mountains area. Snowy\nHydro has complied with the environmental flow obligations that have come into effect up until\nthe date of this report.\nSnowy Hydro and its subsidiaries are subject to the Renewable Energy (Electricity) Act 2000\n(Cwlth) and the Renewable Energy (Electricity) (Charge) Act 2000 (Cwlth), supported by the\nRenewable Energy (Electricity) Regulations 2001 (Cwlth). Under this legislation, renewable\nenergy generators including Snowy Hydro are entitled to create Renewable Ener\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- y\nRiver and the montane rivers within the Snowy Mountains area. Snowy Hydro has complied with the\nenvironmental flow obligations that have come into effect up until the date of this report.\nSnowy Hydro and its subsidiaries are subject to the Renewable Energy (Electricity) Act 2000 (Cwlth)\nand the Renewable Energy (Electricity) (Charge) Act 2000 (Cwlth), supported by the Renewable\nEnergy (Electricity) Regulations 2001 (Cwlth). Under this legislation, renewable energy generators\nincluding Snowy Hydro are entitled to create Renewable Ener\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### Renewable Energy (Electricity) Regulations 2001\n\n**Type**: Regulation\n**Confidence**: medium\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Renewable+Energy+%28Electricity%29+Regulations+2001\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- at have come into effect up until\nthe date of this report.\nSnowy Hydro and its subsidiaries are subject to the Renewable Energy (Electricity) Act 2000\n(Cwlth) and the Renewable Energy (Electricity) (Charge) Act 2000 (Cwlth), supported by the\nRenewable Energy (Electricity) Regulations 2001 (Cwlth). Under this legislation, renewable\nenergy generators including Snowy Hydro are entitled to create Renewable Energy Certificates.\nElectricity retailers (including Snowy Hydro’s subsidiary Red Energy Pty Limited) and wholesale\nelectricity buyers on liab\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- at have come into effect up until the date of this report.\nSnowy Hydro and its subsidiaries are subject to the Renewable Energy (Electricity) Act 2000 (Cwlth)\nand the Renewable Energy (Electricity) (Charge) Act 2000 (Cwlth), supported by the Renewable\nEnergy (Electricity) Regulations 2001 (Cwlth). Under this legislation, renewable energy generators\nincluding Snowy Hydro are entitled to create Renewable Energy Certificates. Electricity retailers\n(including Snowy Hydro’s subsidiary Red Energy Pty Limited and Lumo Energy Australia Pty Ltd) and\nwh\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### Snowy Hydro Corporatisation Act 1997\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Snowy+Hydro+Corporatisation+Act+1997\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- l Planning and Assessment Act 1979 (NSW) and the Local Government Act\n1993 (NSW). Any future development by Snowy Hydro is subject to the standard approval\nprocesses under relevant legislation.\nFor completeness it should also be noted that under Part 5 of the Snowy Hydro Corporatisation\nAct 1997 (NSW), Snowy Hydro has been issued with the Snowy Water Licence. The Snowy\nWater Licence prescribes Snowy Hydro's rights and obligations with respect to the collection,\ndiversion, storage, use and release of water within the Snowy area. The Snowy Water Licenc\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- d\nCONSOLIDATED FINANCIAL REPORT\nFOR THE REPORTING PERIOD ENDED 2 JULY 2016\n(NSW). Any future development by Snowy Hydro is subject to the standard approval processes\nunder relevant legislation.\nFor completeness it should also be noted that under Part 5 of the Snowy Hydro Corporatisation Act\n1997 (NSW) , Snowy Hydro has been issued with the Snowy Water Licence. The Snowy Water\nLicence prescribes Snowy Hydro's rights and obligations with respect to the collection, diversion,\nstorage, use and release of water within the Snowy area. The Snowy Water Licen\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### Energy (Measurement) Determination 2008\n\n**Type**: Determination\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Energy+%28Measurement%29+Determination+2008\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- factors sourced from the National Greenhouse Accounts Factors\n(Department of Climate Change, Energy, the Environment and Water, 2023). Electricity consumption reported under the NGER\nAct apply emissions factors provided in the National Greenhouse and Energy (Measurement) Determination 2008.\nThe scope 1 natural gas emissions reported above have been calculated using emissions factors based on gas composition and\ngas chromatograph meter data supplied to Snowy Hydro by the Australian Electricity Market Operator (AEMO) and APA GasNet\nin Victoria an\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Energy Reporting (Measurement) Determination 2008\n\n**Type**: Determination\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Energy+Reporting+%28Measurement%29+Determination+2008\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- Net\nin Victoria and by Jemena in New South Wales.\nSome scope 1 diesel emissions reported under ‘Other Energy’ have been calculated using emissions factors determined using\nMethod 2 listed in subdivision 2.4.3.1 of the National Greenhouse and Energy Reporting (Measurement) Determination 2008.\nNot all solid waste, refrigerants, or domestic hire car data was available for the above emissions calculations. Ongoing\nbusiness improvement will improve data availability, accuracy and extend to cover all 15 Greenhouse Gas Protocol scope 3\nemissions catego\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Environment Operations (General) Regulation 2022\n\n**Type**: Regulation\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Environment+Operations+%28General%29+Regulation+2022\n\n**Sources**:\n- `pages/annual-reports-index.html`\n\n**Evidence contexts**:\n- t Response Management Plan\nFor Scheme operations, a Pollution Incident Response Management Plan (PIRMP) has been developed and made publicly available in accordance with clauses 153A, 153C and 153D of Part 5.7A of the Protection of the Environment Operations (General) Regulation 2022. This PIRMP is applicable to Environmental Protection Licences (EPLs) 10515, 10379 & 13161.\n•\nScheme Public Pollution Incident Response Management Plan\nAnnual Dam Safety Standards Reports:\n•\n2025 Annual Dam Safety Standards Reports\n•\n2024 Annual Dam Safety St\n Source: `pages/annual-reports-index.html`\n\n### Environment Protection Act 2017\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Environment+Protection+Act+2017\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n\n**Evidence contexts**:\n- portable breaches of Snowy Hydro’s\nlicences or environmental non-compliances resulting in regulatory action or intervention (such as infringement\nnotices, penalties or official cautions) during the financial year.\nAmendments to legislation\nOn 1 July 2021, the Environment Protection Act 2017 (VIC) (the Act) came into effect and is a major expansion of the\nscope of Victoria’s environmental protection regime. As part of the new regime, it introduces a new “general\nenvironment” duty, which imposes a broad obligation for companies like Snowy Hydro to\n Source: `annual-reports/2021-22.pages.jsonl`\n\n### Environment Protection and Biodiversity Act 1999\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Environment+Protection+and+Biodiversity+Act+1999\n\n**Sources**:\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- te of the Auditor-General\nCanberra\n28 October 2025\n123\n\n[page 126]\nAAnbnouuat lS Rneopwoyrt Hydro Directors’ Report Corporate Governance Statement Remuneration Report Financial Report Other Information\nOther information\nIn this section\nCorporate Directory 125\nEnvironment Protection and Biodiversity Act 1999 Report\nand Emissions Statement 126\nRegulatory Reporting Requirements Index 131\n112244\n\n[page 127]\nSnowy Hydro FY25 Annual Report\nCorporate Directory\nDirectors in office during the year and the period until the date of this Report: Auditor\nJames Cain (Chair) B\n Source: `annual-reports/2024-25.pages.jsonl`\n\n### NSW), the Protection of the Environment Operations Act 1997\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=NSW%29%2C+the+Protection+of+the+Environment+Operations+Act+1997\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n\n**Evidence contexts**:\n- s\nThe consolidated entity is subject to the full range of Commonwealth, Victorian and New South\nWales environmental laws including the Environmental Protection and Biodiversity Conservation\nAct 1999 (Cwlth), the Environmental Planning and Assessment Act 1979 (NSW), the Protection\nof the Environment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW)\nand the Contaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko National Park, Snowy Hydro’s operations are subject to both the\nKosciuszko Plan of Management and the Snowy Management Plan. Both\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n\n### National Greenhouse and Energy Reporting Act 2007\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=National+Greenhouse+and+Energy+Reporting+Act+2007\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- ertificates, power purchasing agreements, GreenPower and\nthe jurisdictional renewable power percentage (ACT only).\n46\n\n[page 49]\nSustainability\nThe electricity emissions reported above show a slight discrepancy to emissions Snowy Hydro have reported under the National\nGreenhouse and Energy Reporting Act 2007 (NGER Act), due to the emissions factors applied to electricity consumption. The\nemissions reported for RMG137 purposes use emissions factors sourced from the National Greenhouse Accounts Factors\n(Department of Climate Change, Energy, the Environment and Wate\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Protection of the Environment Operations Act 1997\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Protection+of+the+Environment+Operations+Act+1997\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- lidated entity is subject to the full range of Commonwealth, Victorian and New South Wales\nenvironmental laws including the Environmental Protection and Biodiversity Conservation Act 1999\n(Cwlth), the Environmental Planning and Assessment Act 1979 (NSW) , the Protection of the\nEnvironment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW) and the\nContaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko National Park, Snowy Hydro’s operations are subject to both the Kosciuszko\nPlan of Management and the Snowy Management Plan. Both\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### Red Greenhouse and the Paris the Snowy Act 2000\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Red+Greenhouse+and+the+Paris+the+Snowy+Act+2000\n\n**Sources**:\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- ’s\ndecarbonisation by enabling more renewable generation.\n14\n\n[page 17]\nSnowy Hydro FY25 Annual Report\nPioneering power: Building an energy legacy\nA source of The Renewable Snowy Hydro The National Australia signs\nnational pride, Energy (Electricity) acquires Red Greenhouse and the Paris\nthe Snowy Act 2000 comes into Energy, a Energy Reporting Agreement,\nScheme is effect, establishing challenger retail (NGER) Scheme committing to\ncompleted Australia’s first electricity brand is established reduce emissions\nwith 3,740 MW committed 26–28% below\nmandatory renewabl\n Source: `annual-reports/2024-25.pages.jsonl`\n\n### Sustainability Environment Protection and Biodiversity Act 1999\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Sustainability+Environment+Protection+and+Biodiversity+Act+1999\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- t sustainability report in FY24. We also publish annual reports on\nDiversity and Inclusion, an Annual Water Operating Plan, and a Modern Slavery Statement.\nOur Corporate Governance Statement below details our governance framework and principles.\n44\n\n[page 47]\nSustainability\nEnvironment Protection and Biodiversity Act 1999 (EPBC Act)\nFor the period ended 30 June 2024\nAs a Commonwealth company, Snowy Hydro reports each year in compliance with s516A EPBC Act on the\nfollowing matters:\n• How the activities of Snowy Hydro accorded with the principles of ecologically sustainable deve\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Victorian Energy Efficiency Target Act 2007\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Victorian+Energy+Efficiency+Target+Act+2007\n\n**Sources**:\n- `annual-reports/2022-23.pages.jsonl`\n\n**Evidence contexts**:\n- This falls short of the\ntop quartile of the Global benchmark index of 78%.\nRed Energy Pty Ltd and Lumo Energy Australia Pty Ltd paid energy efficiency shortfall penalties in December 2022 in relation\nto energy efficiency certificate shortfalls pursuant to the Victorian Energy Efficiency Target Act 2007 (Vic).\nThe publicly reportable environmental licence breach relates to one non-compliance event at the Cabramurra sewage\ntreatment plant in December 2022 where treated effluent was discharged from the plant with elevated levels of total\nnitrogen not in accord\n Source: `annual-reports/2022-23.pages.jsonl`\n\n### NSW) and the Contaminated Lands Management Act 1997\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=NSW%29+and+the+Contaminated+Lands+Management+Act+1997\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- mental laws including the Environmental Protection and Biodiversity Conservation\nAct 1999 (Cwlth), the Environmental Planning and Assessment Act 1979 (NSW), the Protection\nof the Environment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW)\nand the Contaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko National Park, Snowy Hydro’s operations are subject to both the\nKosciuszko Plan of Management and the Snowy Management Plan. Both are plans of\nmanagement made under the National Parks and Wildlife Act 1974 (NSW). The latter is\nspe\n Source: `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- ental laws including the Environmental Protection and Biodiversity Conservation Act 1999\n(Cwlth), the Environmental Planning and Assessment Act 1979 (NSW) , the Protection of the\nEnvironment Operations Act 1997 (NSW), the National Parks and Wildlife Act 1974 (NSW) and the\nContaminated Lands Management Act 1997 (NSW).\nWithin the Kosciuszko National Park, Snowy Hydro’s operations are subject to both the Kosciuszko\nPlan of Management and the Snowy Management Plan. Both are plans of management made under\nthe National Parks and Wildlife Act 1974 (NSW). The latter is spe\n Source: `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n### NSW) and the Local Government Act 1993\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=NSW%29+and+the+Local+Government+Act+1993\n\n**Sources**:\n- `other-pdfs/SHL_AnnRep_13-14.pages.jsonl`\n- `other-pdfs/SHL_AnnRep_15-16.pages.jsonl`\n\n**Evidence contexts**:\n- Parks and Wildlife Act 1974 (NSW). The latter is\nspecifically enforceable against Snowy Hydro through regulation.\nOn corporatisation, the Snowy Scheme was given deemed planning approvals for the purposes\nof the Environmental Planning and Assessment Act 1979 (NSW) and the Local Government Act\n1993 (NSW). Any future development by Snowy Hydro is subject to the standard approval\nprocesses under relevant legislation.\nFor completeness it should also be noted that under Part 5 of the Snowy Hydro Corporatisation\nAct 1997 (NSW), Snowy Hydro has been issued wi\n Source: `other-pd\n\n_…truncated, open the .md file for the full content._", "global_initiatives_md": null, "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": "To power Australia’s sustainable future [AR p. 9]", "purposes_source_page": 9, "how_we_deliver": "Our strategy is built on five core elements that respond to our Statement of Expectations and optimise our approach to delivering value for our shareholder, customers, other stakeholders and ultimately, for Australia [AR p. 11]", "how_we_deliver_source_page": 11, "government_priorities": [ { "text": "Enable the renewable energy transition", "source_page": 11 }, { "text": "Deliver reliability and energy security", "source_page": 11 }, { "text": "Promote market competition", "source_page": 11 }, { "text": "Develop responsible environmental and community outcomes", "source_page": 11 }, { "text": "Develop and engage our people", "source_page": 11 } ], "outcomes": [ { "name": "Outcome 1: Energy transition & climate change", "description": "Help Australia act on climate change by providing the electricity storage and on-demand power needed to support more renewable wind and solar energy coming online. We will also support our customers through the transition, while looking for ways to reduce our own emissions [AR p. 12]", "key_activities": [ "Empowering our people to always put safety first", "Operating and maintaining parts of Kosciuszko National Park and other natural resources", "Meeting important environmental regulations" ], "source_page": 12 }, { "name": "Outcome 2: Customer experience", "description": "Build long-term partnerships with our customers and earn their trust by offering a diverse range of energy products, including renewable electricity, backed by exceptional and industry-leading customer service [AR p. 13]", "key_activities": [ "Offering accredited renewable energy options", "Managing supporting assets responsibly in a changing climate", "Strategically managing our assets to maintain the grid’s efficiency and reliability" ], "source_page": 13 } ], "values": [ "Safety", "Teamwork", "Ownership", "Agility", "Decency", "Courage" ], "values_framework_name": "APS Values", "kpi_targets_2025_26": [ { "code": "CCE01", "measure": "Cumulative capacity of Snowy 2.0", "target": "2,200 MW", "source_page": 14 }, { "code": "CCE02", "measure": "Energy storage capacity of Snowy 2.0", "target": "350 GWh", "source_page": 14 }, { "code": "CCE03", "measure": "Wind and solar capacity enabled by Snowy 2.0", "target": "6,600 MW", "source_page": 14 } ], "kpi_results_2024_25": [ { "code": "CCE01", "measure": "Cumulative capacity of Snowy 2.0", "result": "On track", "status": "Achieved", "source_page": 14 }, { "code": "CCE02", "measure": "Energy storage capacity of Snowy 2.0", "result": "On track", "status": "Achieved", "source_page": 14 }, { "code": "CCE03", "measure": "Wind and solar capacity enabled by Snowy 2.0", "result": "On track", "status": "Achieved", "source_page": 14 } ], "_source_urls": { "annual_report_url": "https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf", "corporate_plan_url": "" } }, "ideas": [ { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Data & Performance", "scale": "small", "title": "KPI evidence register with named owners", "idea": "Create a simple register mapping each KPI to source data, owner, frequency, target, and last result.", "quote": "At Risk • Annual performance-based remuneration aligned to • Annual performance-based remuneration aligned to\nVariable the strategic priorities of the Group, individual areas of the strategic priorities of the Group, individual areas of\nRemuneration accountability and corporate values: accountability and corporate values:\n1 (VR1) o 90% Group Balanced Scorecard (quantitative); o 90% Group Balanced Scorecard (quantitative); and\no 10% Individual Key Performance Indicators (KPIs) o 10% Individual Key Performance Indicators (KPIs)\n(qualitative). (qualitative).\n• VR1 is subject to the Safety KPI condition. • VR1 is subject to the Safety KPI condition and malus/\n• VR1 is dependent on achieving performance scorecard clawback terms.\nmeasures over and above threshold performance set • VR1 is dependent on achieving performance scorecard\nby the Board and aligned to the Corporate Plan.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Data & Performance", "scale": "large", "title": "Outcome dashboard linking budget, delivery, and public impact", "idea": "Build a public-facing outcome dashboard showing spend, outputs, outcomes, and delivery confidence.", "quote": "At Risk • Annual performance-based remuneration aligned to • Annual performance-based remuneration aligned to\nVariable the strategic priorities of the Group, individual areas of the strategic priorities of the Group, individual areas of\nRemuneration accountability and corporate values: accountability and corporate values:\n1 (VR1) o 90% Group Balanced Scorecard (quantitative); o 90% Group Balanced Scorecard (quantitative); and\no 10% Individual Key Performance Indicators (KPIs) o 10% Individual Key Performance Indicators (KPIs)\n(qualitative). (qualitative).\n• VR1 is subject to the Safety KPI condition. • VR1 is subject to the Safety KPI condition and malus/\n• VR1 is dependent on achieving performance scorecard clawback terms.\nmeasures over and above threshold performance set • VR1 is dependent on achieving performance scorecard\nby the Board and aligned to the Corporate Plan.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "annual-reports/2022-23.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/03/Annual-Report-2023_Final_DIGITAL-ONLY.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Risk & Assurance", "scale": "small", "title": "Recommendation tracker for audits, reviews, and inquiries", "idea": "Publish a single internal tracker for audit/review recommendations, owners, due dates, and implementation evidence.", "quote": "[Page 135]\nSnowy Hydro FY25 Annual Report\nPGPA Rule Reference Description Location Pages\nDescription\n28E(oa) Information about executive remuneration Remuneration Report 60-69\n28E(ob) The following information about the audit committee for the company:\n(a) a direct electronic address of the charter determining the functions of the audit committee; (a) Corporate 53\n(b) the name of each member of the audit committee; Governance Statement\n(b)–(d) Directors’ Report 41-45\n(c) the qualifications, knowledge, skills or experience of each member of the audit committee;\n(d) information about each member’s attendance at meetings of the audit committee;\n(e) the remuneration of each member of the audit committee\n(e) Remuneration Report 60-69\n28F Disclosure requirements for government business enterprises", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Risk & Assurance", "scale": "large", "title": "Integrated assurance and lessons-learned system", "idea": "Create an assurance system that connects audit findings, risk registers, delivery reviews, and investment decisions.", "quote": "[Page 135]\nSnowy Hydro FY25 Annual Report\nPGPA Rule Reference Description Location Pages\nDescription\n28E(oa) Information about executive remuneration Remuneration Report 60-69\n28E(ob) The following information about the audit committee for the company:\n(a) a direct electronic address of the charter determining the functions of the audit committee; (a) Corporate 53\n(b) the name of each member of the audit committee; Governance Statement\n(b)–(d) Directors’ Report 41-45\n(c) the qualifications, knowledge, skills or experience of each member of the audit committee;\n(d) information about each member’s attendance at meetings of the audit committee;\n(e) the remuneration of each member of the audit committee\n(e) Remuneration Report 60-69\n28F Disclosure requirements for government business enterprises", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "annual-reports/2024-25.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Procurement & Delivery", "scale": "small", "title": "Procurement lessons library for repeat purchases", "idea": "Capture reusable procurement clauses, market lessons, supplier performance notes, and common evaluation criteria.", "quote": "The Property, Plant and Equipment;\ncomplexity of these judgements is increased due to the ● assessed the reasonableness of costs capitalised\nnumber of contractual obligations, construction during the period by:\nmilestones and timing involved in delivery of Snowy 2.0. ● testing, on a sample basis, capitalised costs to\ndetermine whether they were in accordance\nFor the year ended 30 June 2022 the Group reported\nwith the Group’s accounting policy;\ntotal construction in progress of $3 358.3 million.\n● making inquiries of the Group to understand\nthe status of the project, performance against\nbudget and the progress of construction at 30\nJune 2021, including corroboration to project\nreporting prepared by construction delivery\npartners;\n● tested variations to original forecast construction\ncosts by obtaining a sample of corroborating\nevidence including correspondence with delivery\npartners; and", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Procurement & Delivery", "scale": "large", "title": "Portfolio delivery office for major investments", "idea": "Stand up a portfolio delivery office that tracks benefits, risks, dependencies, procurement, and delivery confidence.", "quote": "The Property, Plant and Equipment;\ncomplexity of these judgements is increased due to the ● assessed the reasonableness of costs capitalised\nnumber of contractual obligations, construction during the period by:\nmilestones and timing involved in delivery of Snowy 2.0. ● testing, on a sample basis, capitalised costs to\ndetermine whether they were in accordance\nFor the year ended 30 June 2022 the Group reported\nwith the Group’s accounting policy;\ntotal construction in progress of $3 358.3 million.\n● making inquiries of the Group to understand\nthe status of the project, performance against\nbudget and the progress of construction at 30\nJune 2021, including corroboration to project\nreporting prepared by construction delivery\npartners;\n● tested variations to original forecast construction\ncosts by obtaining a sample of corroborating\nevidence including correspondence with delivery\npartners; and", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Citizen Services", "scale": "small", "title": "Plain-language service pages and proactive status updates", "idea": "Rewrite high-volume pages and letters into plain language, add status notifications, and measure contact reduction.", "quote": "Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities – Snowy 2.0 Project (contractor) and HPP (contractor) 0 0\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.7\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as Top quartile Second quartile\ndetermined by survey) of Global of Global\nBenchmark Benchmark\nIndex Index\nRetail customer experience\nNet Promoter Score (percentage of promoters minus percentage of detractors) Industry Industry\nLeading Leading\nCustomer satisfaction (percentage customers very or quite satisfied) Industry Industry\nLeading Leading\nRegulatory compliance\nOmbudsman complaints (number of complaints per mass market customer) Below industry Below industry\naverage average", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Citizen Services", "scale": "large", "title": "Single front door for life-event based services", "idea": "Bundle services around life events so citizens can complete related steps across agencies in one journey.", "quote": "Performance Area Target Result\nStaff and safety\nFatalities (number of employees and supervised contractors) 0 0\nFatalities – Snowy 2.0 Project (contractor) and HPP (contractor) 0 0\nTotal reportable injury frequency rate (TRIFR) (number per million hours worked; <2.4 2.7\nemployees and supervised contractors)\nStaff satisfaction (percentage of employees very/extremely satisfied as Top quartile Second quartile\ndetermined by survey) of Global of Global\nBenchmark Benchmark\nIndex Index\nRetail customer experience\nNet Promoter Score (percentage of promoters minus percentage of detractors) Industry Industry\nLeading Leading\nCustomer satisfaction (percentage customers very or quite satisfied) Industry Industry\nLeading Leading\nRegulatory compliance\nOmbudsman complaints (number of complaints per mass market customer) Below industry Below industry\naverage average", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Regulation & Policy", "scale": "small", "title": "Regulatory burden scan for forms, guidance, and reporting", "idea": "Identify the top 10 highest-friction reporting obligations and simplify guidance, forms, or evidence requirements.", "quote": "This included: assessing whether\nobservable market data for some contracts that observable market data had been considered\nhave been entered into by the Group as comparable by the Group to the extent it was available;\ncontracts and market data are not readily available. understanding the Group’s process for\nIn these cases the inputs are based on unobservable developing estimates of future price and\ndata as estimated and prepared by the Group; market assumptions relevant to contracts; and\n● the arithmetical complexity of the valuation models considering the sensitivity of valuations by\ndeveloped by the Group to account for these adjusting key inputs to other outcomes that\ninstruments; and may be reasonably foreseeable to assess the\n● the level of complexity related to the preparation reasonableness of the valuation range.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Regulation & Policy", "scale": "large", "title": "Adaptive regulation program with live feedback loops", "idea": "Create an adaptive regulation model using sandboxes, industry data, risk scoring, and regular rule updates.", "quote": "This included: assessing whether\nobservable market data for some contracts that observable market data had been considered\nhave been entered into by the Group as comparable by the Group to the extent it was available;\ncontracts and market data are not readily available. understanding the Group’s process for\nIn these cases the inputs are based on unobservable developing estimates of future price and\ndata as estimated and prepared by the Group; market assumptions relevant to contracts; and\n● the arithmetical complexity of the valuation models considering the sensitivity of valuations by\ndeveloped by the Group to account for these adjusting key inputs to other outcomes that\ninstruments; and may be reasonably foreseeable to assess the\n● the level of complexity related to the preparation reasonableness of the valuation range.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "annual-reports/2021-22.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2022/10/Annual-report-2022_web-1.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Staff Productivity", "scale": "small", "title": "Reusable briefing and summary assistant for internal documents", "idea": "Create controlled templates for summarising reports, submissions, minutes, and ministerial briefs.", "quote": "[pages 81,82,83,84,85]\ndue to forced <1.0 0.49\noutage / annual capability in MWh)\nGas generator start reliability (%; successful starts / total attempted starts) >99.5 98.46\nGas generator forced outage factor (%; MWh of lost capability due to forced <1.0 3.18\noutage / annual capability in MWh)\nSnowy Hydro continues to monitor all aspects of the Snowy 2.0 and Hunter Power projects and continues to make\nsafety our number one priority.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "APS staff / executives", "source": "annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Sensitive information leakage", "Inconsistent quality of generated drafts" ] }, { "entity_id": "B-003895", "entity_name": "Snowy Hydro Trading Pty Ltd", "folder_name": "Snowy-Hydro-Trading-Pty-Ltd", "category": "Staff Productivity", "scale": "large", "title": "Department-wide knowledge and briefing platform", "idea": "Build a secure knowledge platform that lets staff search, summarise, and cite approved departmental material.", "quote": "[pages 81,82,83,84,85]\ndue to forced <1.0 0.49\noutage / annual capability in MWh)\nGas generator start reliability (%; successful starts / total attempted starts) >99.5 98.46\nGas generator forced outage factor (%; MWh of lost capability due to forced <1.0 3.18\noutage / annual capability in MWh)\nSnowy Hydro continues to monitor all aspects of the Snowy 2.0 and Hunter Power projects and continues to make\nsafety our number one priority.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "APS staff / executives", "source": "annual-reports/2023-24.pdf (https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Sensitive information leakage", "Inconsistent quality of generated drafts" ] } ], "legislation_administered": [], "artifacts": [ { "category": "annual-reports", "year": "2024-25", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2026/02/Snowy-Hydro-Annual-Report-2024-25.pdf", "file": "annual-reports/2024-25.pdf", "bytes": 17581801, "link_text": "2024-2025" }, { "category": "annual-reports", "year": "2023-24", "url": "https://www.snowyhydro.com.au/wp-content/uploads/2024/10/SnowyHydro-Annual-Report-2023-24.pdf", "file": "annual-reports/2023-24.pdf", "bytes": 6394747, "link_text": "2023-2024" }, { 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