the australian federal and new western sydney businesses will not be selling their shares in snowy river limited ( the owner and operator of the snowy mountains multi - lighting facility ) . the lake private ' s major client is the federal government with a 58 percent shareholding . the national government ownership 29 units and the federal party has a 13 percent stake . territory premier morris iemma announced in june 2005 that he wished to lose the family ' s stock in snowy hydroelectric that caused the national and australian governments to comply . the proposed sale has attracted immense criticism by those who argued that the sale wouldn affect the environment and water supplies along the snowy river , this was reinforced yesterday ; 58 great australians presented a petition to the government opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.