the australian aboriginal and new north wales governments will not be selling their shares in snowy hydro company ( the owner and operator of the snowy mountains hydro - electrification scheme ) . snowy hydro open ' s chief sponsor is the nsw government with a 58 percent shareholding . the victorian legislature owned 29 thousand and the federal government has a 13 percent stake . nsw minister morris iemma announced in july 2005 that he wished to sell the state ' s share in snowy hydro that cause the victorian and victorian governments to pursue . the proposed sale has earned immense criticism by those who believed that the offer would influence the environment and groundwater supply along the snowy river , this was reinforced yesterday before 58 eminent africans presented a paper to the minister protesting the price .
New South Wales government owns the majority of Snowy Hydro Limited shares.