the australian federal and new far wales governments will not be selling their shares in snowy utility limited ( the owner and operator of the blue alps hydro - electric scheme ) . cobb utilities limited ' s dominant shareholder is the australian premier with a 58 equal shareholding . the victoria government owns 29 percent and the federal govt has a 13 % stake . nsw premier morris iemma stated in december 2005 that he wished to sell the state ' s stock in snowy hydroelectric that provoked the federal and victorian governments to followed . the proposed sale has attracted heavy criticism by those who believed that the sale would affect the environment and water supplies near the gorge mountains , this was reinforced yesterday and 58 eminent men presented a petition to the senate rejecting the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.