The dam was designed as a response to the floods that damaged Brisbane in 1974. Built in the late 1970s – early 1980s as a multifunction facility by a consortium of construction companies including Thiess Brothers, Wivenhoe Dam provides a safe water supply to the people of Brisbane and adjacent regions. Additionally, Wivenhoe Dam serves as the lower storage in a pumped-storage, hydro-electric generating facility, the Wivenhoe Power Station. The upper reservoir is formed by Splityard Creek Dam, of earth and rock construction, with a capacity of . Under normal conditions the dam supplies water via pipeline to both Tarong Power Station and Tarong North Power Station, but during drought conditions only supplies water to Tarong North.