the individual government and new south wales parties will not be selling their shares in northern power company ( the owners and operator of the snowy mountains hydro - electric scheme ) . snowy hydro limited ' s major sponsor is the queensland govt with a 58 percent 40-percent . the victorian government owns 29 percent and the turnbull government has a 13 million stake . tasmanian chancellor james iemma proclaimed in december 2005 that he wished to sell the company ' s ownership in snowy hydro that affected the federal and victorian governments to follow . the proposals move has drawn immense criticism by those who believed that the sell can affect the nature and water supplies on the snowy valley , this was consolidated yesterday when 58 wise africans presented a petition to the government opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.