The dam is utilised for the hydro-electric scheme and is surrounded by steep Alpine ash clad mountains. A very majestic spot to visit. Try your luck around the lake to catch brown and rainbow trout. If it is walking you are looking for try the 3km loop around the dam. Park in the car park just below Bogong Jacks Tavern.
The track around Lake Guy starts 150 metres north-west of the car park. Continue through the tunnel in the dam wall and follow the walking track to 'The Junction' at the confluence of Fainter Creek and Rocky Valley Creek which join to form the east branch of the Kiewa River. Cross over the white bridge at the southern end of the car park and return via the vehicle track or by the lower walking track.
No bushwalking experience required. Formed track with some obstacles, gentle hills and many steps. Sign posted.