the australian federal and new - wales parties will not be sells their stake in river hydro corporation ( the operator and operator of the snowy mountains hydro - electric scheme ) . gorge hydro limited ' s significant client is the nsw premier with a 58 percent shareholding . the federal government possesses 29 percent and the federal state has a 13 percent stake . nsw governors jack iemma declared in december 2005 that he wish to sell the state ' s share in murray and that prompted the federal and victorian governments to follow . the proposed sale has attracted immense criticism by those who believed that the acquisition would affect the environment and water supplies along the snowy river , this was reinforced yesterday when 58 south europeans brought a petition to the public opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.