Major projects the government funds through loans and equity, with each cost estimate published for them. Amounts are as published, in dollars of the day, not adjusted for inflation. Where scope or price basis changed, estimates are marked “not like for like”. How these are compiled.
Snowy Hydro Limited. A pumped-hydro power station joining two existing dams in the Snowy Mountains scheme. The estimates do not include upgrades to the shared transmission network, which Snowy Hydro does not own. Snowy Hydro says the $22.2bn target cost is not the amount taxpayers will have to fund.
First published estimate
$2.0bn Mar 2017
Latest estimate
$22.2bn–$25.0bn Oct 2026
Latest as a multiple of first
11.1–12.5× not like for like
Expected completion
Late 2029 (fully commissioned) first stated as About 2021 (four years)
Snowy Hydro Limited. A 660 MW gas-fired power station at Kurri Kurri in the Hunter Valley, NSW. The estimates cover the power station only, not the gas pipeline that supplies it. Snowy Hydro said in July 2026 that a final commissioning stage would start testing on or after 10 July 2026.
First published estimate
$600m May 2021
Latest estimate
$1.3bn Dec 2024
Latest as a multiple of first
2.2×
Expected completion
June 2025 (both units) first stated as December 2023
Marinus Link Pty Ltd. An undersea electricity link between Tasmania and Victoria, planned as two 750 MW cables. In 2023 the governments that own it agreed to build Stage 1, one cable, first. Supporting transmission in north-west Tasmania is a separate project.
Inland Rail Pty Ltd, formerly part of the Australian Rail Track Corporation (ARTC). A freight railway from Melbourne to Brisbane. In May 2026 the government decided to finish construction between Beveridge in Victoria and Parkes in New South Wales by the end of 2027, and to preserve the corridor north of Parkes.
First published estimate
$4.4bn Jul 2010
Latest estimate
$45.0bn May 2026
Latest as a multiple of first
10.2× not like for like
Expected completion
2036 at the earliest first stated as 2020 (operations assumed to start)
NBN Co Limited. Planned in 2009 as fibre to the premises; changed in 2013 to a mix of technologies. Declared built and fully operational in December 2020. Equity added since then for fibre upgrades is new work and is not included in these estimates.