A consultancy firm commissioned to write a report used by the Baird government to bolster its argument for partially privatising the NSW electricity network stands to make more than $24 million from the transaction.
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Ernst and Young was commissioned by NSW Treasury last year to produce the report, which concluded that customers have paid lower charges in Victoria and South Australia after privatisation.
Its findings were used by Premier Mike Baird to argue the case for his proposal to partially privatise the NSW electricity network and use the anticipated $13 billion in proceeds to build infrastructure.
Aspects of its report were later criticised in a report by economist Stephen Koukoulas commissioned by unions opposed to the privatisation.
Contract summaries relating to the transaction reveal that Ernst and Young stands to earn $24.5 million between August last year to December 2016.
The contract relates to Ernst and Young's role as "an accounting/tax adviser" to assist with the preparation and partial privatisation of the electricity network businesses.
Under a separate contract, Ernst and Young will also earn $3.5 million as a "Business Optimisation Consultant" for the transaction.
Legislation for the 99-year lease of 50.4 per cent of distribution businesses Ausgrid and Endeavour Energy and all of transmission company Transgrid passed the Legislative Assembly on Thursday.
It will be introduced into the upper house next week.
Other contract summaries relating to the transaction reveal that two investment banks advising on the privatisation, UBS and Deutsche Bank, stand to earn a combined $35 million between last July and December 2016.
The role of UBS came under scrutiny after it emerged during the final week of the March election campaign rewrote a report critical of the impact of the privatisation on the budget after calls from Mr Baird's office.
Among the biggest potential winners from the transaction are the lawyers.
The contract summaries state that as "lead legal adviser" Allens Linklaters will earn $28 million in fees between July last year and December 2016 should the privatisation proceed.
Public relations firm Newgate Communications is set to earn $1.3 million by December 2016 for providing "strategic communications and issues management support and communications advice".
Mr Baird was forced to defend the decision to award contracts to UBS and Deutsche Bank before the election. The firms prepared the "scoping study" which determined the privatisation model the government took to the poll.
Mr Baird explained their fees were negotiated on an "at risk" basis, meaning that if the government wasn't relected, no money would be paid. Newgate Communications is understood to have agreed to the same arrangement.
The total value of the contract summaries so far disclosed for the electricity privatisation is more than $100 million.
