SNOWY MOUNTAINS HYDRO SCHEME MAY LIST IN AUSTRALIA.

SYDNEY, Dec 1 Asia Pulse - Australia's iconic Snowy Mountains Hydro Electric Scheme could be listed on the stock exchange under a proposal being considered by the NSW, Victorian and federal governments.

Snowy Hydro Ltd managing director Terry Charlton said today that the three governments, which own the company, had been asked to consider options allowing it to raise equity to fund growth.

"We have over the last 12 months put forward a number of proposals that include listing on the ASX (Australian Stock Exchange), issuing new shares, thus raising additional equity," Mr Charlton said in a statement.

"It is part of normal planning procedures that Snowy Hydro Ltd put proposals to its shareholders in regard to raising debt and equity."

The NSW government owns 58 per cent of the Snowy, Victoria 29 per cent and the federal government 13 per cent.

The Snowy scheme, which has an estimated worth of up to $3 billion, generates 4,500 gigawatts of electricity a year.

Mr Charlton said the company was entering an exciting period of growth but could not expect to receive more equity from its existing shareholders.