the australian federal and new south york governments will not be purchasing their holdings in river hydro limited ( the owner and operated of the snowy mountains power - electric scheme ) . nsw hydro limited ' s major landowner is the nsw minister with a 58 percent shareholding . the victorian party owned 29 percent and the federal govt has a 13 share stake . nsw premier jem iemma announce in early 2005 that he wished to sell the state ' s membership in snowy hydro that triggered the federal and victorian legislatures to follow . the proposed sale has attracted immense criticism by those who believed that the sale would upset the environment and water supplies along the snowy falls , this was followed recently when 58 eminent australian presented a campaign to the government rejecting the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.