the australian federal and new sa wales governments will not be selling their shares in snowy hydro company ( the owner and developer of the snowy mountains hydro - electric scheme ) . snowy hydro llc ' s leading shareholder is the nsw government with a 58 percent shareholding . the victorian government owns 29 percent and the australian cabinet has a 13 percent stake . nsw government morris iemma announced in november 2005 that he wished to sell the family ' s holdings in howling hydro that caused the federal and victorian politicians to follow . the planned sale has faced increasing criticism by those who belief that the sale would affect the environment and water supplies along the snow river , this was reiterated yesterday when 58 eminent nationals offered a petition to the council opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.