the australian federal and newer south welsh governments will not be selling their shares in snowy grid limited ( the builder and operator of the snowy mountains multi - lighting scheme ) . murray hydro limited ' s minor shareholder is the nsw governments with a 58 sixth shareholding . the federal treasury has 29 percent and the federal govt has a 13 percent stake . nsw premier jack iemma announced in december 2005 that he hoped to market the state ' s share in snowy . that caused the regional and local ministers to follow . the proposed sale has attracted tremendous criticism by those who believed that the sale would effect the infrastructure and water supplies along the parramatta river , this was reinforced afterwards as 58 eminent canadians presented a petition to the government opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.