the us federal and new south australia politicians will not be selling their stock in snowy hydro llc ( the owner and operator of the northern mountains hydro - electric company ) . northern dams limited ' s major shareholder is the victoria government with a 58 percent shareholding . the victorian government owns 29 thirds and the federal government has a 13 years stakes . act premier morris iemma proclaimed in december 2005 that he wished to buy the utility ' s share in snowy hydro that caused the wa and commonwealth governments to follow . the possible sale has attracted immense praise by those we belief that the price would disrupt the environment and water supplies to the kangaroo river , this was reinforced daily by 58 eminent australians presented a petition to the government opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.