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Australia puts power industry sale on hold

Plans by New South Wales (NSW) to sell off its power companies in Australia have been put on hold. NSW’s Labour government has met stiff opposition from unions and organised labour since the proposal was first tabled in May 1997.

The sell-off would have included NSW’s 58% share of the Snowy Mountain hydroelectricity scheme, state-owned power stations, six electricity distribution companies and the Transgrid power transmission network.

The state treasurer said he had no plans to address the issue again before a Labour party conference in October.