Commonwealth
Government Business Enterprises

 

Snowy Hydro Ltd

Corporate Form

Snowy Hydro Ltd is:

  • an unlisted public company limited by shares incorporated under the Corporations Act
  • a Commonwealth Company for the purposes of the PGPA Act. 

Snowy Hydro Ltd is wholly owned by the Australian Government represented by two Shareholder Ministers, the Minister for Finance and the Public Service and the Minister for Energy.

Enabling Legislation

Snowy Hydro Ltd does not have any specific Enabling Legislation. The company was corporatised under the Snowy Hydro Corporatisation Act 1997 (Cth).

Constituent Documents

Shareholder Ministers resolved the adoption of a new constitution and statement of expectations on 15 October 2018.

The statement of expectations can be found here and includes the Government’s expectations that Snowy Hydro Ltd should:

  • continue to operate as a leading participant in the National Electricity Market;
  • promote competition in wholesale and retail energy markets;
  • ensure that its retail businesses operate as exemplars in the market; and
  • deliver financial returns consistent with its commercial operations.

Capital Structure

Snowy Hydro Ltd only has fully paid ordinary shares in issue, all of which are owned by the Commonwealth.

Unique Industry Regulatory Features

Snowy Hydro Ltd operates under the Snowy Water Licence, which allows it to collect, divert, store, and release water by and from the works of the Snowy Scheme. It also defines the rules for releases into the Murray and Murrumbidgee Rivers and imposes environmental flow release obligations for the benefit of the Snowy River and other montane rivers.