the australia federal and new south queensland governments will not be selling their involvement in snowy dams limited ( the owner and operator of the snowy mountains grid - electric scheme ) . northern hydro plc ' s major shareholder is the national cabinet with a 58 percent shareholding . the nsw government owns 29 percent and the nsw government has a 13 percent stake . nsw mayor morris iemma announced in december 2005 that he wish to sell the state ' s stakes in snowy hydro that allowed the federal and victorian rulers to following . the proposed sale has attracted immense criticism by those who believed that the sale would affect the environments and its supplying along the snowy highway , this was reinforced once when 58 eminent canadians presented a petition to the media opposing the offer .
New South Wales government owns the majority of Snowy Hydro Limited shares.