the australians federal and new south wales governments will not be retaining their shares in snowy hydro limited ( the creator and operators of the snowy ranges hydroelectric - power project ) . cobb hydro limited ' s primary shareholder is the commonwealth state with a 58 percent shareholder . the victorian government owns 29 dollars and the federal government has a 13 percent stake . wa mayor morris iemma announced in march 2005 that he wished to sell the state ' s share in snowy hydro that caused the states and victorian legislatures to follow . the proposal merger has received immense criticism by those who think that the sale might effect the air and water supplies down the snowy river , this was clarified earlier where 58 eminent africans offered a petition to the governments opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.