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The Snowy Mountains Scheme was corporatised on 28 June 2002, which transformed it from a government owned enterprise into a corporation called Snowy Hydro Limited, operating under the Corporations Act 2001. The shareholders are the NSW Government (58%), the Government of Victoria (29%) and the Commonwealth Government (13%).
Snowy Hydro operates in the National Electricity market and is a producer, supplier and trader of clean, renewable energy. The renewable energy produced by the Scheme means that less power generation is required from coal-fired power stations, making a substantial contribution to reducing Australia’s greenhouse gas emissions.
As well as providing clean, renewable energy, Snowy Hydro is a provider of innovative products, such as energy insurance hedge products. These offer a type of insurance for the electricity industry, giving certainty to customers and helping them manage their exposure to the volatile electricity market.
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